- BSE, NSE suspend trading of DHFL shares from June 14: Know why
- Franklin case: Meet Vivek & Roopa Kudva, the couple in Sebi's firing line
- Palm oil prices fall most in nearly a month due to technical selling
- Sensex, Nifty post fourth straight weekly rise; Dr Reddy's rises over 3%
- Latest meme stock: Danish biotechnology company jumps almost 1,400%
- Coal India hits 52-week high, regains Rs 1 trillion market capitalisation
- PSU m-cap up 77% in 7 months as investors move towards value stocks
- Oil prices rise to fresh multi-year highs on fuel demand recovery
- Decoding equity flows: Retail investors offset FPI selling in April, May
- Recovery hopes drive gains for pure-play CV maker Ashok Leyland
MARKET WRAP: Sensex, Nifty end flat on a choppy day; IT stocks drag
All that happened in the markets today
Benchmark indices ended Friday's session with marginal cuts after erasing its intraday gains in the final hour. IT stocks were the top drags and remained subdued throughout the day after the US-based IT services company Cognizant nearly halved its 2019 growth guidance.
The intra-day rise in the indices was spurred by a slip in oil prices with financial stocks gaining the most, before the indices retreated to trade flat in the end.
The S&P BSE Sensex settled 18 points lower for the day at 38,963, with TCS, Hindustan Unilever, TATA Steel, HCL Tech and Infosys dragging the index down. Twelve out of the 30 constituents of the BSE ended the day in red, while the rest settled in green.
The broader index Nifty50 was also down 12.5 points, or 0.11 per cent, to end at 11,712 levels. The market breadth was tilted in favour of declines. About 1,031 stocks fell and 702 shares advanced on National Stock Exchange.
On a weekly basis, the S&P BSE Sensex closed 0.27 per cent lower while and the NSE Nifty50 slipped 0.36 per cent. This was the indices' biggset weekly loss since February 11.
Among sectoral indices, the Nifty IT index was the biggest loser, down almost 1.9 per cent while the Nifty FMCG index also slipped 1.13 per cent. On the other hand, Nifty Realty index and Nifty PSU Bank index gained 1.57 per cent and 1.09 per cent, respectively.
The voltality index, VIX, ended the day 4.35 per cent higher at 23.98.
In the broader market, the S&P BSE MidCap index slipped 15 points, or 0.10 per cent, at 14,783, while the S&P BSE SmallCap index ended the day at 14,548, down 45 points, or 0.31 per cent.
Information technology (IT) stocks remained under pressure on Friday, after the US-based IT services company Cognizant nearly halved its 2019 revenue expectations after missing first-quarter results, as it faces sluggish demand in its financial and healthcare businesses. READ MORE
Shares of Balrampur Chini Mills continued their northward journey, with the stock hitting 18-month high of Rs 157 before ending the day at Rs 156.50, up 1.69 per cent, on the expectation of strong earnings growth. The stock was trading at its highest level since December 6, 2017. READ MORE
(With inputs from Reuters)