Nifty, Sensex Close In Red As Banks Stocks Dip
The other sectors such as Auto, FMCG, IT, Metal, Pharma, PSU Banks, Realty, Consumer durables, Oil and Gas trade in green
The Indian benchmark equity indices closed the trading session in red territory in the Friday trading session.
The BSE Sensex fell 210 points or 0.27 per cent to close the day's trading at 79,032.73, while the Nifty 50 closed 35 points or 0.15 per cent lower at 24,010.
Bank Nifty closed in the red down 469 points or 0.89 per cent at 52,342.25.
Among the sectoral indices, Nifty Bank deteriorated and remained in red while other sectors that remained in red territory were financial services, media and private stocks which were seen trading in the red.
The other sectors such as Auto, FMCG, IT, Metal, Pharma, PSU Banks, Realty, Consumer durables, Oil and Gas traded in green.
The top gainers of Nifty 50 at the National Stock Exchange (NSE) were Dr Reddy's Laboratories, ONGC, Reliance Industries, SBI Life Insurance, and Tata Motors. Bharti Airtel, Axis Bank, ICICI Bank, Kotak Mahindra Bank, JSW Steel, and IndusInd Bank were the major losers in the Nifty 50.
The stocks of Bharti Airtel saw a surge after it hiked rates for its data services.
Among the thematic indices, the stocks of Nifty Energy traded high leading 1.18 per cent. Stocks in Nifty CPSE, Infrastructure, Midcap Liquid 15 traded in green.
"We expect this momentum to continue into July with the Union Budget and the results season providing the next catalysts to the market progress," said Ajay Bagga, banking and market expert.
The Nifty-50 Index and Sensex gained around 2.5 per cent each in the past week, scaling new all-time highs as market expectations turned further bullish over the past week.
While the mid-cap index gained around 0.45 per cent and the small-cap index gained 0.44 per cent underperforming large-caps.
"The improvement in market sentiment over the past week suggests that the market has steadied post Lok Sabha elections. Markets remained optimistic about strong government support for the economy, especially for the manufacturing sector, in the upcoming Union Budget," said Shrikant Chouhan, Head of Equity Research. (ANI)
