Muted global cues, continued concerns over rupee and interest rates and below expected results from companies dampened investor sentiment on Friday with both benchmark indices closing in the red.

The BSE Sensex closed at 19,748 down about 57 points or 0.29 per cent from its previous close and the NSE Nifty closed at 5,886 down about 21.30 points or 0.36 per cent from its previous close.

Dipen Shah, Head of Private Client Group Research, Kotak Securities said: “Markets ended weak on Friday on subdued global cues and continuing concerns over interest rates and rupee. Below expectation results from a few companies also marred sentiments. For the week, Nifty ended the week down 2.3 per cent. Mid cap stocks were at the receiving end with several of them losing in double-digit percentage terms."

"Markets will now focus on the RBI policy. After the steps taken to restrict the rupee depreciation, markets are concerned about any further increase in interest rates. If the RBI does not hike interest rates next week, it may provide some respite to the markets in the immediate term," he added

Except FMCG, consumer durables and healthcare, all sectoral indices closed in red on the BSE led by realty sector which fell the most by 3.52 per cent.

Volatility was up with the India Vix index closing at 16.78 up 0.36 per cent from its previous close.

On the NSE, Ambuja Cements, ITC, Sun Pharma, Heromoto Corp and M&M were the top gainers while Hindalco, PNB, Sesagoa, Coal India and HUL were the top losers.

(This article was published on July 26, 2013)
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