Stocks Settle A Little Low on Reserve Profits, Global Indices

New Delhi: India’s stock indexes – S&P BSE Sensex and NSE Nifty50 – moved a little lower on Friday, mainly due to earnings recognition. Notably, the indices traded slightly lower throughout Friday’s session.

For new indices, investors were waiting for high-frequency macroeconomic data – the monthly IIP – which was due to be released later today.

On Friday, Divi Labs, Titan, HDFC, Tata Consumers, Kotak Bank were among the big losers. These stocks fell 1.55%, 1.52%, 1.15%, 1.03%, 1.01%, respectively.

On the other hand, Asian Paints, SBI, M&M, TCS, Bajaj Finserv Bank were among the main winners. As a result, the S&P BSE Sensex closed at 58,786 points, down 0.03% from its previous close.

The larger 50-stock Nifty on the National Stock Exchange (NSE) ended the day’s session at 17,511 points, down 0.03%.

On the sector front, financials and consumer durables posted some pullback on Friday.

“Indian benchmarks traded lower to close flat on global market weakness as the market waited for the release of November Indian and US inflation figures,” said Vinod Nair, head of research at Geojit Financial Services.

“Losses in the financials and IT sectors pushed indexes lower, while positive stocks in real estate, autos and metals helped erase the losses with strong support from mid and small caps.”

In addition, Nair cited that the Asian and European indices were trading on a weak footing ahead of US inflation data.

Siddhartha Khemka, Retail Research Manager, Motilal Oswal Financial Services: “Today profit recognition has been seen in financial services, FMCG, IT and private banking. while the purchase has been seen in media reality and metals.

“The PSU banking index was the main winner, rising 2.6% after the government announced that it might consider the crucial ‘banking amendment bill’. “

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