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Markets end lower on profit-booking
Stock markets on Friday registered their first drop in seven sessions amid profit-booking and mixed global leads, but both indices scored gains for the second straight week.
Sensex down by 42 points while Nifty sheds 12 points
Mumbai: Stock markets on Friday registered their first drop in seven sessions amid profit-booking and mixed global leads, but both indices scored gains for the second straight week. Overnight losses in the US, lacklustre corporate earnings by top US companies and the rupee, at 66.48, giving up some ground against the dollar, had soured mood on Friday.
The 30-share BSE Sensex opened a shade higher and settled lower by 42.24 points, or 0.16 per cent, at 25,838.14. The index had risen about 1,207 points in the past six sessions - its longest winning streak since March. The 50-share NSE Nifty broke below the psychological 7,900-level and closed at 7,899.30, down 12.75 points, or 0.16 per cent. Intra-day, it shuttled between 7,923.35 and 7,873.35.
For the week, the BSE Sensex rose 211.39 points, or 0.82 per cent, and the NSE Nifty 48.85 points, or 0.62 per cent. The uptrend in the previous six sessions came on the back of continuous foreign inflows amid positive macro numbers, IMD's forecast of an above-normal monsoon and Infosys' strong revenue guidance.
On the BSE, Hindustan Unilever took the biggest blow, plunging 2.04 per cent to Rs 884.30, followed by Asian Paints (1.84 per cent) at Rs 871.60. HDFC, Sun Pharma, ITC, Bharti Airtel, BHEL, Infosys, GAIL, ICICI Bank, Wipro, TCS and Tata Steel lost too. Of the 30-pack Sensex, 16 ended with losses, but 14 ended in the green, thus limiting the fall.
In terms of sectoral show, the BSE FMCG index got much hammering, down 0.78 per cent, followed by IT 0.57 per cent, technology 0.47 per cent and consumer durables 0.46 per cent. Broader markets gave some reasons to cheer, with the mid-cap index firming up 0.08 per cent and small-cap 0.02 per cent.
Foreign portfolio investors (FPIs) net purchased shares to the tune of Rs 805.42 crore on Thursday, as per provisional data. Overseas, it was a mixed closing in Asia, with Hong Kong's Hang Seng falling 0.72 per cent and Japan's Nikkei gaining 1.20 per cent. ECB's expected policy stance failed to cheer the European market due to the underlying fear of deflation.
