Closing Bell: Nifty ends below 15,800, Sensex sheds around 150 points; Tata Motors, M&M, Sun Pharma gain in weak market

The Indian market ended in the red despite gaining nearly one percent in the afternoon trade on Friday. The benchmarks ended on negative note on all days this week as they extended losing streak to sixth straight day.  

On Friday, headline indices Nifty50 and the Sensex closed with 0.16% and 0.26% respectively 

The two indices settled at 15,782.15 and 52,793.62 respectively.

High domestic inflation data failed to spook investors since the recent selloff has already absorbed the ongoing uncertainties in the market, said Vinod Nair, Head of Research at Geojit Financial Services.

"Domestic markets witnessed a rebound as buyers took the recent correction into their advantage following the trend of the global market. However, the weakness seen in the banking sector triggered a late selloff. The US Fed cautioned against an aggressive policy stance in order to bring inflation under the Fed’s comfort zone of 2%," the expert added
  

Meanwhile, mid cap and small cap stocks saw buying interest as related Nifty indices closed with nearly 1% gains on Friday. India volatility index (India VIX) cooled down to settle near 23-mark.  

Tata Motors was top gainer on Nifty50, while Sun Pharma led the Sensex pack.  

Among other stocks, Mahindra & Mahindra, ITC, Hindustan Unilver, Titan, Dr Reddy, Nestle India, Kotak Bank and Reliance Industries were among top gainers on the benchmarks. 

Sectorally, Nifty Bank declined more than 1 per cent, while Nifty Metal dropped over 2 per cent.  Auto stocks outperformed as Nifty Auto was the top gaining sectoral index on Friday. Buying action was also seen in FMCG, Pharma and Consumer Durables.