Live
- Meloni speaks with 'friend' Elon Musk after congratulating Trump on election win
- Israel signs 5.2-billion USD deal to purchase 25 F-15 fighter jets
- Pioneering machine learning and GIS in agri-food systems
- Aha OTT Launches Writers Talent Hunt to Empower New Voices in Telugu Cinema
- Chhath festivities turn sour for two families in Bihar
- Preparations afoot for evening Arghya in Patna
- Vanara Celluloid announces debut project ‘Tribanadhari Barbarik’
- IPL player auction: James Anderson hopes IPL would help him in his coaching career
- ‘Jithender Reddy’ team expresses confidence on film’s content
- TN farmers plan major stir against Land Consolidation Act, 2023
Key indices hovering in restricted range
Markets settle flat amid profit taking after record rally; Adani Group stocks in red
Mumbai: Equity benchmark indices Sensex and Nifty took a breather on Friday after a record rally in the previous session and ended marginally lower on the emergence of profit-taking. In a range-bound trade, the 30-share BSE Sensex fell by 71.77 points or 0.09 per cent to close at 82,890.94. During the day, it dived 309.49 points or 0.37 per cent to 82,653.22. The NSE Nifty dropped 32.40 points or 0.13 per cent to 25,356.50. On a weekly basis, the BSE benchmark jumped 1,707.01 points or 2.10 per cent and the Nifty climbed 504.35 points or 2.02 per cent.
“After a sharp fall in early trades, key indices recouped most of their losses to end marginally lower on select profit-taking in power, oil & gas and FMCG shares. Markets were mostly range-bound after Thursday’s sharp upsurge, and investors could now be in a wait-and-watch mode ahead of next week’s Fed policy meeting,” said Prashanth Tapse, senior V-P (research), Mehta Equities Ltd.
In the broader market, the BSE smallcap gauge jumped 0.95 per cent and midcap climbed 0.48 per cent.
As many as seven Adani group stocks ended lower on Friday as the Swiss authorities froze $311 million (Rs2,610 cr) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied.
“The market took a breather and ended on a flat note after the previous day’s sharp uptick. Despite domestic CPI inflation being within the RBI’s target band, the increase in food prices may influence the central bank to remain prudent on rates. Higher liquidity from FIIs to the domestic market and a slide in US 10-year yield increased the prospects of the FED rate cut, which will aid domestic sentiment,” said Vinod Nair, head (research), Geojit Financial Services.
Among the indices, oil & gas declined by 0.55 per cent, FMCG fell (0.55 per cent), utilities (0.36 per cent), services (0.35 per cent) and power (0.28 per cent). Realty, consumer durables, commodities, metal, IT and financial services were among the gainers.
