Friday, December 20, 2024 | 02:00 PM ISTEN Hindi

Sensex, Nifty recoup losses, end flat; auto stocks dip, PB Fintech gains 8%

CLOSING BELL: The S&P BSE Sensex ended with a marginal loss of 88 points, while the Nifty held the 18,300-level on Friday.

SI Reporter New Delhi

(Photo: Bloomberg)

STOCK MARKET HIGHLIGHTS

The key benchmark indices recouped losses, led by fresh buying in select IT and financial shares, to end Friday’s trading session on a flat note. Auto stocks skidded for the second day in a row.

The S&P BSE Sensex, which, touched a low of 61,337, eventually ended at 61,663, down 88 points. In the process, the BSE benchmark also finished the week with a marginal loss of 132 points.

The NSE Nifty 50 settled 36 points lower at 18,308 on Friday.

Among the Sensex 30 stocks, Mahindra & Mahindra slipped 2.4 per cent. NTPC, Bajaj Finance, Maruti, IndusInd Bank and Bharti Airtel were the other notable losers. On the positive side, HCL Technologies and Asian Paints finished with gains of around a per cent each.

ALSO READ: As Sensex struggles at 62,000, Nifty at 18,500, here's what can happen next

The broader indices - BSE Midcap and Smallcap were down nearly 0.5 per cent each. The breadth too was fairly negative, with 2,048 declining stocks against 1,455 advancing shares on the BSE.

The BSE Auto index slipped 1.2 per cent and was the major sectoral loser. The Capital Goods, Oil & Gas and Energy indices were the other prominent losers.

In the broader market, shares of TCPL Packaging hit a record high at Rs 1,696, and ended with a solid gain of 15.4 per cent on healthy business outlook. The stock of the packaging company surpassed its previous high of Rs 1,540.45, touched on September 5, 2022. READ MORE

4:27 PM

TECH VIEW :: 'Bears will watch for 42,000 on Nifty Bank'

The BANK NIFTY index witnessed a volatile trading session where the first half was controlled by the bears and in the closing hours, bulls came back to hold the support. The bulls in order to gain back the momentum will have to take the index above 42,600-42,700 levels from where the uptrend will resume. The bears will watch for 42,000 on the downside if breached and will get an upper hand on the index which will drag it further down toward the 41,500 level."

Views by: Kunal Shah, Senior Technical Analyst at LKP Securities

4:13 PM

COMMENT :: 'Domestic market is now focusing on global trend for future direction'

Domestic market is now focusing on global trend for future direction due to lack of domestic triggers. Negative vibes in developed market and aggressive comment from Fed officials have shaken the ongoing optimistic trend across the globe. Despite a late attempt of recovery, the domestic market largely traded with a negative shade, in all sectors except PSU banks.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

4:01 PM

COMMENT :: 'Some signs of sluggishness in growth could set in soon due to the aggressive rate action'

The equity indexes closed in the red after a day of volatile trading. The PSU Banks and Realty traded higher defying the trend for the day. What that markets would look forward to would be the developments Europe and the statements from leading Fed officials on the future stance of the Fed. Though price pressures have ebbed, the retail inflation numbers are too high for the comfort of the central banks, especially in the US and India.

At the same time, the prominent view is that probably inflation has peaked and that central banks might still hike rates but the quantum of hikes would be more moderate. Some signs of sluggishness in growth could set in soon due to the aggressive rate action in the last few months. Markets would focus on the actual numbers to get a sense of the trajectory of inflation and official policy as well.

Views by: Dr. Joseph Thomas, Head of Research, Emkay Wealth Management

3:53 PM

COMMENT :: 'Observing breakout failures across sectors'

Markets traded volatile and ended marginally lower, in continuation to the prevailing consolidation phase. After the flat start, the Nifty index gradually inched lower as the session progressed however recovery in the final hours pared the losses significantly. It finally settled at 18,307 levels; down by 0.2%. All the sectoral indices, barring PSU banking, traded in tandem and ended lower.

Markets are indicating the prevailing consolidation to continue and Nifty should decisively cross 18,450 levels to regain strength. Meanwhile, we reiterate our view to focus more on sector/stock selection citing restricted participation. Besides, we’re observing breakout failures across sectors, so maintain strict risk management rules also in place.

Views by: Market Analysis by Mr. Ajit Mishra, VP - Research, Religare Broking

3:51 PM