Sensex drops 44 pts, Nifty50 ends below 10,250

Stocks turn choppy, sign off week on muted note

The 30-share BSE Sensex index, which remained in the positive zone for the major part of the session, hit a high of 33,519.49 but succumbed to a late sell-off to end at 33,307.14, down 44.43 points, or 0.13 per cent. The broad-based NSE Nifty, after shuttling between 10,296.70 and 10,211.90, finally ended 15.80 points, or 0.15 per cent down at 10,226.85.

Stock benchmarks succumbed to the last hour of selloff on Friday and closed in the red in a volatile session as metal, bank and pharma stocks bled.

Uncertainty circled US President Donald Trump’s trade policy even though he spoke of flexibility and likely exemptions for some of the country’s trading partners.

At the end of trade, the BSE Sensex was down 44 points, or 0.13 per cent, at 33,307. The NSE Nifty50 edged lower 16 points, or 0.15 per cent, to 10,227.

For the week, both Sensex and Nifty declined over 2 per cent.

Europe was a picture of weakness as investors held their nerve waiting for the US job report due later in the day, according to Reuters.

Tata Steel, Axis Bank and Adani Ports and SEZ were the top losers on the Nifty, falling by up to 3.65 per cent. Tech Mahindra and Bajaj Finance ended in the green though.

The IT index traded higher while banking and auto indices fell the most.

Of the 50 stocks in the Nifty team, 28 lost and the rest won.

Adani Power, Allahabad Bank, Canara Bank and Corporation Bank were among 116 stocks that hit fresh 52-week lows on Friday. A total of 12 stocks, including Ashok LeylandBSE 1.84 %, touched fresh 52-week highs.

Asian peers were ahead of Indian stocks on Friday.

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