Closing bell: Indian market ends the week in red, Nifty falls below 15800
Domestic equity bourses Sensex and Nifty closed lower for the sixth straight session, amid mixed global cues as investors booked profits in banks and metal stocks.
Indian equity market extended its fall for the sixth straight day on Friday as selling in banking, financial and metal stocks countered gains in automobile, consumer goods and pharma. The headline indices plunged into the red during late deals.
Participants remained worried amid the high inflation numbers and hawkish policy stance by central banks. Owing to these developments benchmark indices erased all the intraday gains and ended lower.
At the closing bell on May 13, the Sensex was down 136.69 points or 0.26% at 52,793.62, and the Nifty was down 25.80 points or 0.16% at 15,782.20. On the market breadth, around 2097 shares have advanced, 1166 shares declined, and 128 shares are unchanged.
Top Nifty losers of the day were Hindalco Industries, SBI, JSW Steel, NTPC and ICICI Bank. Top gainers included Tata Motors, Sun Pharma, M&M, ITC and HUL. Among the top laggards, Hindalco was the top loser as the stock lost 4.84% to Rs 386.20. In the top gainers, Tata Motors soared 8.51% to Rs 404 after reporting a smaller loss in the fourth quarter that ended March 31, 2022.
On the sectoral basis, bank, metal and power indices fell 1-2% lower, while auto, FMCG, and pharma indices rose 1-2%. In the broad markets, the BSE midcap index rose 0.8% and smallcap indices added 1.3%. Indian rupee closed flat at 77.44 per dollar against Thursday’s close of 77.42.
In other news, the Delhivery IPO was fully subscribed despite tough market conditions. The issue was subscribed 1.12 times.
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