Sensex ends 53 pts lower, cracks below 80,000 mark; Nifty50 inches higher to 24,324

Domestic equity benchmarks finished a volatile session largely unchanged on Friday, with the 50-scrip Nifty50 managing to register a fresh record closing high, as buying interest in energy and FMCG shares was countered by selling pressure in financial, IT and auto stocks. While the Sensex lost 53.1 points, or 0.1 per cent, for the day to end at 79,996.6, the Nifty50 settled at a record 24,323.9, up 21.7 points, or 0.1 per cent, from its previous close. 

HDFC Bank was the worst hit among blue-chip stocks, finishing the day 4.5 per cent lower after a quarterly update by the private sector lender fell short of analysts' expectations.

Titan, LTIMindtree, Tata Steel and IndusInd Bank - each declining around 1-2 per cent - were among the other top losers in the Nifty50 universe. 

On the other hand, ONGC, Reliance, SBI, Britannia and Cipla, finishing 2-4 per cent higher, rose the most among the 34 gainers in the basket. 

HDFC Bank was the biggest drag on both headline gauges.

After the market hours on Thursday, HDFC Bank reported a 52.6 per cent increase in gross advances with 24.4 per cent growth in deposits. 

Nomura maintained its 'neutral' rating on HDFC Bank with a target price of Rs 1,660 per share after the news, stating that the lender's growth in loans as well as deposits is generally seasonally soft in the June quarter. 

The Nifty Bank - whose 12 constituents include SBI, ICICI Bank and Axis Bank, besides HDFC Bank - shed 443.4 points or 0.8 per cent to close at 52,660.4. The Nifty Financial Services was the worst hit among NSE's sectoral indices, falling 1.0 per cent. Financial stocks enjoy the maximum weightage of 34 per cent in the 50-scrip headline index. 

Broader indices outperformed their headline counterparts, with the Nifty Midcap 100 and Nifty Smallcap 100 rising 0.8 per cent each. 

Overall market breadth remained mildly positive throughout the session, with an advance-decline ratio of about 6:5 as 2,242 stocks rose while 1,686 fell on BSE. 

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