Stock Market Today: Indices erase intraday positive factors, finish a tad decrease; Sensex slips 49 factors

The benchmark fairness indices on the BSE and National Stock Exchange (NSE) erased their intraday positive factors and ended with marginal cuts on Friday.

The S&P BSE Sensex slipped 48.88 factors (0.09 per cent) to finish at 55,769.23 whereas the Nifty 50 declined 43.70 factors (0.26 per cent) to settle at 16,584.30. Both the indices had opened over 0.75 per cent increased earlier within the day and traded within the optimistic territory by way of a lot of the session earlier than giving up the positive factors and slipping within the purple over the last hour.

Ultratech Cement, Maruti Suzuki India, NTPC, Axis Bank, Bajaj Finserv, IndusInd Bank, Mahindra & Mahindra (M&M), Bharti Airtel, Tata Steel and State Bank of India (SBI) had been the highest laggards of the day. In distinction, Reliance Industries (RIL), Infosys, Larsen & Toubro (L&T), Sun Pharmaceutical Industries, Tata Consultancy Services (TCS) and Wipro had been the highest gainers.

Among the sectoral indices on NSE, Nifty Auto fell 1.82 per cent, Nifty Bank declined 0.95 per cent, Nifty Metal slipped 1.27 per cent and Nifty Media crasked 1.52 per cent.

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In the broader market, the S&P BSE MidCap ended at 22,774.98, down 336.23 factors (1.45 per cent) whereas the S&P BSE SmallCap settled at 26,384.14, down 310.64 factors (1.16 per cent).

“The late sell-off indicates the lack of confidence in the domestic market driven by the concerns over Central Bank policy. While in the global market, the investors were waiting for the release of US job data. The RBI is expected to hike rates by 25 bps to 35 bps and the Fed by 50 bps, but the outlook & changes in the economic growth and inflation will determine the market trend. If the central banks decide on a stringent policy tightening, the market mood can swing bearish,” stated Vinod Nair, Head of Research at Geojit Financial Services.

Global market

Global shares rose Friday amid blended indicators for buyers comparable to rising power costs and COVID-19 restrictions easing in China.

European shares edged up in early buying and selling, with France’s CAC 40 gaining 0.3 per cent to six,517.73. Germany’s DAX added 0.3 per cent to 14,528.45, whereas buying and selling was closed in Britain for a nationwide vacation.

Trading additionally was closed in China for the Dragon Boat Festival, a nationwide vacation. Benchmarks in the remainder of Asia edged increased, cheered by a rally in a single day on Wall Street.

The future for the Dow industrials was down 0.2 per cent at 33,161.00. The S&P 500 future fell 0.3 per cent to 4,164.75.

-global market enter from AP