Sensex, Nifty snap 6-day winning run amid losses in banks: 10 key highlights from Indian stock market today

Stock market today: Profit taking at higher levels, trade deal jitters and crude price surge pushed the Indian benchmark indices — Sensex and Nifty — lower on Friday after a six-day rally. Bank stocks emerged as the biggest index drags, with HDFC Bank contributing to nearly half of the losses.

Sensex settled the day 344.52 points or 0.41% lower at 84,211.88. Its NSE counterpart, Nifty 50, ended at 25,795.15, down 96 points or 0.37%.

Broader market indices, too, closed in the red today, although they outperformed the benchmarks. The BSE Midcap index lost 0.25% and the BSE Smallcap index 0.19%.

Here are the 10 highlights from the Indian stock market today:

Ashika Institutional Equities said that Indian markets opened on a muted note today despite positive cues from the global market. “The sentiment was further dampened after India’s Trade Minister reiterated that the country would not rush into trade agreements under restrictive conditions, weighing on investor confidence,” said the brokerage.

Technically, Nifty remains range-bound between 25,500 and 26,000 levels, and a decisive move beyond this band will likely set the tone for the next directional trend, it added.

Only 16 Nifty 50 stocks closed in the green today. Metal counter Hindalco emerged as the best performer, with a 4.11% rise, amid a jump in aluminium prices.

ICICI Bank, Bharti Airtel, Shriram Finance, ONGC and Bharat Electronics were among the other top winners, gaining 0.90% to 1.05%.

On the other hand, 34 Nifty 50 stocks settled in the red. Cipla shares cracked the most at 3.68% despite its deal with Eily Lilly. HUL, Max Healthcare, UltratTech Cement and Adani Ports also emerged as top losers, shedding between 1.8% to 3.3%.

Barring Nifty Metal and Nifty Realty, all other sectoral indices declined in trade today. The metal index jumped 1.03% while the realty counter added 0.18%. On the flip side, Nifty Private Bank, Nifty FMCG and Nifty PSU Bank indices shed the most, down 0.81%, 0.75% and 0.74%, respectively.

Vodafone Idea remained the most traded stock in volume terms as 89.53 crore shares changed hands. Utkarsh SFB followed with 14.90 crore volumes. Yes Bank (9 crore shares), Sammaan Capital (7.99 crore) and Epack Prefab Technologies (7.80 crore shares) were other stocks that saw high volumes.

(More to come…)

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