Closing Bell: Nifty, Sensex fall on profit booking in IT realty stocks Infosys HCL Tech top losers

Equity benchmark Sensex fell nearly 390 points on Friday, while the broader NSE Nifty declined 112.75 points or 0.61 per cent to 18,496.60. The 30-share BSE Sensex opened strong but came under severe selling pressure to close 389.01 points or 0.62 per cent lower at 62,181.67.

Among the top Nifty losers, there were HCL Technologies, Tech Mahindra, Infosys, Wipro, and Hindalco Industries, while the list of top gainers includes Nestle India, Sun Pharma, Titan Company and Eicher Motors.

HCL Tech fell 6.72 per cent, followed by Tech Mahindra, Infosys, Wipro, TCS, and Reliance Industries.

Rising crude oil prices and relentless foreign capital outflows further weighed on sentiment leading to the decline, traders said.

Paytm owner One97 Communications was one of the top gainers in the broader markets on news of share buyback. Paytm buy back share meeting is scheduled for 13 December.

“Market now awaits the busy next week with US CPI expected to come lower on 13th. FOMC on 14th and on 15th BOE and ECB will provide the volatility to the Risk Assets Market,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors LLP.

Sector-wise, BSE IT, metal and tech lost as much as 2.98 per cent, while healthcare and banks managed gains. The information technology index fell 3 percent, while the banking sector (PSU bank) index was down 1 percent. However, FMCG index gained nearly 1 percent.

BSE midcap index slipped 0.4 percent and smallcap index fell 1 percent. Meanwhile, international oil benchmark Brent crude surged 0.05 per cent to USD 76.19 per barrel.

Flows in the mutual fund industry through systematic investment plans or SIPs route witnessed a sharp rise of an all-time high of Rs 13,306 crore in November, reflecting the growing maturity and confidence of investors.

“The Nifty posted a negative weekly close in the last week after hitting an all-time high in the penultimate week. In the last session, the index breached the support zone of 18600-18500 on a closing basis. On the daily chart, it formed an Engulfing bear candle for the last session,” said Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.