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MARKET WRAP: Sensex slips 143 pts amid weak global cues; financials decline
All that happened in the markets today
The Indian stock market ended Friday's volatile session in the negative territory amid weak global cues. The relentless rise in Covid-19 cases both in India as well as on the global front weighed on investor sentiment. The S&P BSE Sensex slipped 143 points or 0.39 per cent to settle at 36,594 levels while NSE's Nifty ended at 10,768, down 45 points or 0.42 per cent.
HDFC, HDFC Bank, ICICI Bank, and Axis Bank contributed the most to the Sensex's fall. Axis Bank ended as the top loser on the index while Reliance Industries (RIL) ended as the biggest gainer - up around 3 per cent. RIL hit a fresh lifetime high of Rs 1,884.40 during the day before settling at Rs 1,878.50 on the BSE.
On a weekly basis, Sensex gained 1.6 per cent while Nifty rose 1.5 per cent.
The sectoral trends on the NSE remained mixed. While financials, metals and auto stocks declined in the trade, pharma, FMCG, and realty counters rallied. The Nifty Pharma gained 0.85 per cent to 10,072.25 levels. On the other hand, Nifty Bank slipped over 2 per cent to 22,398.45 points.
In the broader market, the S&P BSE MidCap index fell 0.72 per cent while the S&P BSE SmallCap index declined 0.35 per cent.
World stocks faltered on Friday as record-setting new coronavirus cases in several US states led to worries that more lockdowns may be necessary, making a quick economic recovery unlikely.
European stocks declined 0.3 per cent, taking cues from Asia. Shares in China fell 1.8 per cent from a five-year high. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 per cent. Australian stocks declined by 0.6 per cent as an extension of loan-payment deferrals hit the banking sector. Japanese stocks were down by 1.1 per cent.
The e-mini futures for the S&P 500 erased early gains to trade down 0.6 per cent.
In commodity markets, oil prices declined while gold was set for a fifth straight weekly gain as a spike in US Covid-19 infections underpinned safe-haven appetite.
(With inputs from Reuters)