Benchmark indices lost ground in late trades to end lower as investors booked profits after gains in the previous session post the US Federal Reserve's decision to keep interest rates unchanged.
The S&P BSE Sensex slipped 105 points to close at 28,668 and the Nifty50 settled 36 points lower at 8,832. Among broader markets, BSE Midcap and Smallcap indices ended up 0.1%-0.3% each. Market breadth ended weak with 1496 losers and 1166 gainers on the BSE.
"Nifty edged marginally lower on Friday and lost nearly half a percent, tracking decline in select index majors. The move was on expected line in Nifty and we believe it’ll continue ahead also. However, the range would be broader due to upcoming F&O expiry. At the same time, we expect mixed movement on stock specific front so traders should maintain a balanced trading approach till consolidation continues," Jayant Manglik, President, Retail Distribution, Religare Securities
Foreign institutional investors were net buyers in equities worth Rs 337 crore on Thursday, as per provisional stock exchange data.
BHEL pared intra-day gains to end lower. The state-owned engineering major in a release said that it has recorded the highest-ever commissioning of projects in its history and the highest order booking in the last five years in fiscal 2015-16, ending the year with significant traction in growth drivers.
Energy shares were among the top gainers with Reliance Industries extended gains to rise over 1%.
State-owned ONGC ended with marginally gains. Recently, the oil exploration major announced that its overseas subsidiary ONGC Videsh plans to acquire 11% additional interest in Vankor Field located in East Siberia of the Russian Federation.
Bharti Airtel, India’s largest mobile operator, announced on Friday the launch of a special 4G prepaid data pack that offers "free data" for 90 days. The stock ended flat.
Select private banking majors eased on profit taking. ICICI Bank ended down 1.4%. Axis Bank dropped nearly 6% on speculation of SUUTI stake sale in the bank.
IDFC Bank, Bharat Forge, Kesoram Industries, MRF, IFCI, Reliance Capital, Ramco Cement, SRF, Bombay Burmah Trading Corporation and Ajanta Pharma are among the 30 stocks from the S&P BSE 500 index hitting their respective 52-week highs in intra-day trade in an otherwise subdued market today.
Among others, L&T Technology Services listed at Rs 920 on the National Stock Exchange (NSE) today, against an issue price of Rs 860 per share, a premium of around 7%. The stock pared intra-day gains to end flat at Rs 860.
Adlabs Entertainment zoomed 20% on the back of more than 20-fold jump in trading volumes. On Thursday, September 22, 2016, Insync Capital Partners LLP bought 400,000 shares of Adlabs Entertainment at an average price of Rs 81.84 per share in a bulk deal on NSE.
Union Bank of India ended lower. The bank has received Rs 608 crore from the central government towards preferential allotment of 26,74,87,901 equity shares of Rs 10 each at a price of Rs 22.73 per share, UBI said in a BSE filing.
Bharat Financial Inclusion ended up 4.5% the company announced that its qualified institutional placement (QIP) issue opened for subscription on Thursday, September 22, 2016.
Websol Energy System ended locked in upper circuit of 20% on the back of heavy volumes after the company announced that the Reserve Bank of India (RBI) approved the restructuring of outstanding foreign currency convertible bonds (FCCBs) subject to certain conditions.