Domestic stock markets, concluded Friday’s choppy trading session on a lower note, breaking their rising spree in the past four sessions. BSE benchmark index Sensex shed 84 points to close at 38,251, while the NSE Nifty settled 25 points lower at 11,557.
Banking stocks dragged the markets lower while weakness in global markets affected trading sentiment. Top laggards on the 50-scrip Nifty index were Yes Bank, ICICI Bank, Hero MotoCorp, Titan Company and Adani Ports, closing with losses of between 1.7 per cent and 3.7 per cent.
However, the Sensex and Nifty registered weekly gains of 303 points and 86 points respectively. The key indices had hit record highs eight times this month.
Things to know:
1. The Nifty Bank the NSE’s sectoral index comprising banking stocks – closed 0.7 per cent lower. SBI, Bank of Baroda and ICICI Bank ended around 0.6-1.9 per cent lower.
2. Lacklustre trade in domestic markets was in line with global peers. World stocks came under pressure as new tariffs took effect in the US-China trade war and markets speculated about US President Donald Trump’s position following legal rulings against two former advisers.
3. However, gains in metal stocks curbed the downside. The Nifty Metal finished 1.9 per cent higher.
4. Reliance Industries ended 0.6 per cent higher, a day after crossing the Rs. 8 lakh crore mark in terms of market capitalisation (M-Cap).
5. The Sensex and Nifty registered their fifth weekly gain in a row.>