Stock Market Pares Gains: Sensex, Nifty End Flat. PSU Bank Dips 1.5%


The two key equity benchmarks, Sensex and Nifty, on Friday pared their gains and closed flat amid profit booking in the second half of the trading session. The BSE Sensex closed at 73,143, down 15 points. On the other hand, the NSE Nifty50 settled at 22,213, down 5 points.

On the 30-share Sensex platform, HCLTech, Maruti, Asian Paints, JSW Steel, SBI, TCS emerged losers. On the flip side, Bajaj Finserv, M&M, Titan, Wipro, Reliance, L&T were among the gainers.

In the broader markets, the BSE Midcap and Smallcap indices shutting shops 0.15 per cent and 0.53 per cent higher, respectively.

Sectorwise, Nifty Realty rose 1 per cent, Nifty Pharma gained 0.4 per cent, while Nifty Auto went up by 0.2 per cent. On the other hand, Nifty PSU Bank index declined 1.15 per cent.  

The global financial landscape saw predominantly positive movements, propelled by significant gains in US markets driven largely by the impressive quarterly performance of tech giant Nvidia.

In Asia, the Shanghai Composite index saw a 0.6 percent increase, while Hong Kong’s Hang Seng remained steady. Tokyo’s markets remained closed for a holiday. European markets also experienced modest gains, with Germany’s DAX, France’s CAC 40, and London’s FTSE 100 rising by up to 0.1 per cent.

Meanwhile, in the domestic market, Foreign Portfolio Investors (FPIs) turned net sellers on Thursday, offloading securities worth Rs 1,410.05 crore.

The Indian rupee exhibited a narrow consolidation pattern, depreciating by 8 paise to close at 82.93 (provisional) against the US dollar on Friday. This movement was attributed to the strength of the American currency and a subdued performance in domestic equities.

Forex traders pointed to foreign fund outflows as a key factor weighing on the rupee’s value.

In interbank foreign exchange trading, the rupee commenced trading at 82.87 and concluded at 82.93 (provisional) against the dollar, marking a decline of 8 paise from the previous close.

Throughout the trading session, the rupee displayed a confined range of movement, reaching an intraday high of 82.84 and a low of 82.96 against the US dollar. On the preceding day, the rupee had settled at 82.85 against the US dollar.

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