Stock Market Highlights, Friday, November 8, 2024: Benchmark equity indices, BSE Sensex and NSE Nifty50, ended in the red for the second consecutive session on Friday.
The BSE Sensex shed 55.47 points or 0.07 per cent to settle at 79,486.32, while the Nifty 50 declined 51.15 points or 0.21 per cent to 24,148.20.
As many as 27 out of 50 NSE Nifty50 constituent stocks ended in the red, dragged down by Trent, Coal India, Tata Steel, Asian Paints, and State Bank of India, with losses extending up to 3.50 per cent.
Conversely, Mahindra & Mahindra, Titan, Tech Mahindra, Nestle India, and Infosys were among 23 constituent stocks of Nifty50 that managed to settle in the green on Friday, with gains extending up to 2.40 per cent.
The broader markets settled in the red, with Nifty Midcap100 and Nifty Smallcap100 falling 1.33 per cent and 1.70 per cent, respectively.
All sectoral indices ended in the red, except for Nifty IT, Pharma and FMCG. Nifty Realty, and Media were the top laggards among the sectoral indices, falling by over 2 per cent each.
Devina Mehra at BS BFSI Summit
At the BS BFSI Summit, Devina Mehra, chairperson, managing director, and founder of First Global, offered an incisive perspective on the current state of the Indian equity market. In equity markets, he said one has to take a long-term view and have a good amount of investment in equity.
"I am not saying put 100 per cent of your corpus in equity, but don't change your equity allocation too often either. I am not saying the markets will not go down from here. I don't see a sustained crash in large-caps. But many of those small-, mid-, micro-caps, where there is froth, can be at risk," she said.
 "Market Close Highlights: Sensex ends 50 pts lower at 79,500; Nifty at 24,150; PSB, Oil drag, IT up")
