Comments
The Sensex and Nifty ended marginally lower as investor risk appetite took a hit after a stronger dollar weighed on crude oil prices overnight and in Asian trading earlier in the day, with energy stocks dragging down both the indexes.
Asian stocks were mostly lower on Friday as the dollar climbed to a seven-month high against a basket of currencies and dragged down crude oil prices, cooling investor risk appetite.
The rupee fell to a one-week low against the dollar, as the greenback was boosted by a fall in the euro after the European Central Bank shot down talks that it was contemplating tapering its monetary easing - sending the common currency to its lowest since March.
The 30-share BSE index Sensex closed lower by 52.66 points or 0.19 per cent at 28,077.19 and the 50-share NSE index Nifty ended down 6.35 points or 0.07 per cent at 8,693.05.
The Nifty rose 1.28 per cent for the week. while the Sensex ended up 1.46 per cent for the week.
Barring metal and consumer durables, all other BSE sectoral indices ended in the green. Among them, realty index gained the most by 0.86 per cent, IT 0.69 per cent, TECk 0.62 per cent and infrastructure 0.56 per cent. On the other hand, consumer durables index was down 1.7 per cent and metal 0.62 per cent.
Top five Sensex gainers were HUL (+1.26%), TCS (+1.2%),HDFC Bank (+1.19%), Dr Reddy's (+1.08%) and Wipro (+0.75%), while the major losers were Axis Bank (-2.26%), Reliance (-2.21%), Cipla (-2.07%), HDFC (-1.66%) and Asian Paints (-1.17%).
RIL down
Brokers said selling by funds as well as retailers gathered momentum after Reliance Industries had yesterday reported a 23 per cent drop in its second quarter consolidated net profit, which had a bearing on stock movement.
RIL shares fell after the consolidated net profit in July-September came in at Rs 7,206 crore, 22.9 per cent lower than Rs 9,345 crore in the same period a year ago.
Wipro results
Investors continue to track quarterly results, with Wipro Ltd, India's third-largest software services exporter, slated to announce its results later in the day.
“A mix of global cues with earnings unfolding is what is driving markets. Volatility will be there going forward with earnings being the main trigger on the domestic front,” said Rajnath Yadav, research analyst, Choice Equity Broking Pvt Ltd.
“On the global front, the US presidential elections and the Brexit phenomenon will be keenly tracked.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.