Highlights
- Asian Paints, SBI, Mahindra & Mahindra, TCS and Bajaj Finserv in gains
- Shanghai Composite in China, Japan’s Nikkei, South Korea’s Kospi, Hong Kong’s Hang Seng in losses
- Brent crude rose 0.39 percent to $74.71 a barrel
The BSE Sensex and the National Stock Exchange’s Nifty (NSE Nifty) closed with a slight fall on Friday in volatile trade. The market ended lower with losses in HDFC Ltd., HDFC Bank, Infosys and Kotak Bank amid a weak global trend. The 30-share BSE Sensex closed at 58,786.67, down 20.46 points, or 0.03 per cent. Similarly, the National Stock Exchange’s Nifty (NSE Nifty) slipped 5.55 points, or 0.03 percent, to close at 17,511.30.
Titan was the biggest loser in the Sensex with a fall of more than one percent. Apart from this, HDFC, Axis Bank, Kotak Bank and Tech Mahindra also suffered losses. On the other hand, gainers include Asian Paints, State Bank of India, Mahindra & Mahindra, TCS and Bajaj Finserv.
Market rally this week
Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities said that the domestic stock markets were overall bullish this week as concerns over the novel coronavirus outbreak, Omicron, eased. Both Sensex and Nifty gave gains of around 1.7 per cent this week. BSE Midcap and BSE Smallcap (indices of mid and small companies) outperformed indices of large companies. Of these, there was an increase between 2 and 3 percent. Most of the segment-wise indices remained in the positive zone. “In the near-term, the US Federal Reserve’s upcoming meeting of the market will watch the stance on reducing the bond buying program and key policy rates,” he said.
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condition of global markets
In other Asian markets, Shanghai Composite Index in China, Japan’s Nikkei, South Korea’s Kospi and Hong Kong’s Hang Seng ended in losses. Major markets in Europe had a declining trend in afternoon trade. Meanwhile, international oil benchmark Brent crude rose 0.39 per cent to $74.71 per barrel.
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