Closing Bell! Sensex, Nifty witness selling pressure for 4th straight day; Nifty Bank hits new high again

The Indian stock market extended weakness for the fourth consecutive session, to end in the red on Friday. The BSE Sensex fell by over 100 points, while Nifty pulled back to 18100-level. The decline mainly was aided by the metal sector, followed by IT, pharma and FMCG stocks at the close. 

At the end of the session, the BSE Sensex declined 101.88 points or 0.17 per cent at 60,821.62 while the Nifty50 tumbled 63.2 points or 0.35 per cent to 18,114.9. Even the mid-cap index followed the benchmarks’ footsteps and lost 273.7 points or 0.87 per cent to close at 31,082.45 level.

See Zee Business Live TV Streaming Below:

In otherwise negative market, Nifty Bank breached the 40550-level for the second straight session today. The surge in the banking index was led by Kotak Mahindra Bank and Axis Bank. 
As many as 16 stocks advanced and 34 declined on the Nifty50 index at the end of today’s session.

Correcting for the third day in a row, Hindalco declined most by over 5 per cent, followed by Coal India, Tata Motors, ITC each that lost over 3 per cent. While Divis Lab, Tata Consumer, Adani Ports, Maruti, Infosys, Wipro and Eicher Motor each declined between 2-3 per cent at the market close today.

On the contrary, HDFC became a top gainer on Friday, surged over 2 per cent, followed by Bajaj Auto and Kotak Bank each gained around 1.5 per cent, while ONGC and Axis Bank grew by over 1 per cent at the market close.

Sectoral wise, Nifty Metal plunged most by over 3 per cent, followed by pharma, IT and FMCG each down by around 1.5 per cent, while Nifty Bank, aided by private lenders, and financial services indices surged most, with the former hitting new record high and the latter up 0.6 per cent.