Of the 30-stock package, the most downturned was Titan, down 3.59%, Tech Mahindra down 2.35%, Maruti Suzuki India down 1.79% and Wipro down 1.18%.
Of the 30-stock package, the most downturned was Titan, down 3.59%, Tech Mahindra down 2.35%, Maruti Suzuki India down 1.79% and Wipro down 1.18%.
Benchmark Sensex and Nifty indices fell for a third straight day on Friday on profit-taking in consumer discretionary, FMCG, banking and IT stocks amid ongoing concerns over commodity prices, interest rate hikes and geopolitical tensions.
The 30-part BSE benchmark fell 233.48 points, or 0.41%, to settle at 57,362.20. On the day, it fell 495.44 points to 57,100.24.
The broader NSE Nifty fell 69.75 points, or 0.40%, to settle at 17,153.
Stock indexes ended the week lower after posting two consecutive weeks of gains. Sensex fell 501 points while Nifty ended the week down 134 points.
“The Indian equity market continues to be in a grind, influenced by and reacting to increasing newsflow on the global front, particularly related to the geopolitical situation and Fed rhetoric. The two most important challenges and monitors for markets in the near term are persistent inflationary pressures and rising bond yields,” said Milind Muchhala, Executive Director, Julius Baer.
Of the 30-stock package, the most downturned was Titan, down 3.59%, Tech Mahindra down 2.35%, Maruti Suzuki India down 1.79% and Wipro down 1.18%.
Among the major index decliners, HDFC Bank fell 0.76%, TCS fell 1.12% and Infosys fell 0.55%.
ICICI Bank, Nestle India, Larsen & Toubro, HCL Technologies, Tata Steel and ITC also fell.
On the other hand, Dr. Reddy’s continued its run, rising 0.77%. Asian Paints rose 0.76% and Reliance Industries rose 0.73%. Bharti Airtel, State Bank of India and Kotak Mahindra Bank also made progress.
“Following the recent 10% rally, the market has turned sideways with a negative bias due to the rise in commodity prices, monetary policy tightening and inflationary pressures. The domestic market is showing strong resilience, but to sustain the trend, much will depend on the outcome of the war and commodity prices,” said Vinod Nair, director of research at Geojit Financial Services.
In the broader market, the BSE mid-cap fell 0.36% and the small-cap gauge fell 0.33%.
A total of 2,078 fell while 1,329 advanced and 103 remained unchanged.
Among BSE sector indices, consumer durables fell the most by 2.28%, followed by capital goods (0.95%), FMCG (0.72%) and information technology (0.68%).
Elsewhere in Asia, stock markets in Shanghai and Hong Kong ended lower, while Tokyo and Seoul ended with modest gains.
Stock markets in the US closed higher in the overnight session.
Meanwhile, international oil benchmark Brent crude fell 1.44% to $117.32 a barrel.
Foreign institutional investors (FIIs) became net sellers in the capital market, selling £1,740.71 billion worth of shares, according to stock market data on Thursday.
