Stock market today:  The domestic equity market slipped for the second consecutive session on Friday (August 11) amid a sell-off in almost all the counters except PSU banks and consumer durable stocks. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Both indices settled over 0.50 per cent lower. At close, the S&P BSE Sensex stood at 65,322.65, down 365.53 points, or 0.56 per cent while the NSE's Nifty ended at 19,428.3, down 115 points, or 0.59 per cent.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 indexes were under pressure, down by 0.45 per cent and 0.18 per cent, respectively.

On the sectoral front, Nifty Bank closed 0.77 per cent lower at 44,199.10. All the indices closed lower; Nifty Pharma dragged the index. 

TECHNICAL VIEW 

"The Nifty is likely to witness a continuation of the selling pressure, and with both the daily and hourly momentum indicators having a negative crossover, it is likely to be trending moves on the downside. On the downside, we expect the Nifty to target levels of 19,100. The crucial support zone on the downside is placed at 19,350–19,290, and on the upside, resistance is placed at 19,530–19,500," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

NIFTY 50 STOCKS 

IndusInd Bank, SBI Life, Tata Consumer, UPL, and Asian Paints were among the top five losers. Conversely, HCL Tech, Titan, Power Grid, Tata Steel, and UltraTech Cement were the top laggards.

BUZZING STOCKS 

Hindustan Copper extended its winning streak and rose over 7 per cent in Friday's session. Bharat Forge stock was up nearly 2 per cent on positive management commentary. Samvardhana Motherson and Manappuram Finance closed higher on strong earnings.

Conversely, Apollo Tyres closed over 8 per cent lower after posting weak Q1 numbers. Alkem Laboratories cracked nearly 8 per cent on the back of weak results.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.