Financial shares came to the rescue of the benchmark indices for the second straight day, as a selloff in select index heavyweights exerted pressure on the indices.
The BSE Sensex index ended with a loss of 102 points at 60,822, after trading within a range of 61,420 and 60,551. The NSE Nifty50, on the other hand, settled 63 points lower at 18,115. It touched a high and low of 18,314 and 18,034, respectively.
HDFC was the major gainer among the Sensex 30 stocks, up 2.2 per cent, followed by Bajaj Auto, Kotak Bank, IndusInd Bank, Axis Bank and Titan. On the flipside, ITC shed 3.4 per cent to close at Rs 236.50. Maruti, NTPC, Infosys, Tata Steel, HCL Technologies, Nestle India, Asian Paints, Larsen & Toubro and TCS were the other significant losers.
Among individual stocks, shares of Reliance Industries ended 0.15 per cent higher on the BSE today ahead of the company's September quarter results, due to be announced later today. Analysts expect the September quarter performance of the oil-to-telecom conglomerate to be led by growth in retail, digital-telecom business, and steady petrochemical margins.
That apart, LIC Housing Finance and Can Fin Homes declined 8 per cent each in the intra-day trade today after the announcement of their July-September quarter results. Their peer firm HDFC, on the other hand, hit a record high of Rs 2,937.75, rising over 3 per cent in the intra-day trade.
On the upside, shares of IRB Infra surged 20 per cent to scale a fresh 3-year high of Rs 293 on the BSE on Friday. The stock has zoomed as much as 43 per cent in the last three days on the back of the company's fund raising plans.
Further, shares of TVS Motor Company soared 10 per cent to Rs 632.85 on the BSE in Friday's intra-day trade on back of heavy volume after the company reported highest ever revenue, earnings before interest, tax, depreciation and amortization (ebitda) for the quarter ended September 2021 (Q2FY22). The stock of two and three-wheeler manufacturer had hit 52-week high of Rs 665.70 on May 27, 2021.
Sectorally, the Nifty Metal index fell for a second straight day, down nearly 6 per cent in 2 days, after China announced measures to curb surging coal and base metal prices. Among individual stocks, barring Welspun Corp, which was up 6 per cent, all other index constituents ended the day in the red led by Vedanta (down 8 per cent), Hindustan Zinc, Hindustan Copper, Nalco, Coal India, and Adani Enterprises.
The Nifty Realty index, up over 2 per cent, was the top gainer on the NSE with Brigade Enterprises, Prestige Estate Projects, and Oberoi Realty rising up to 5.7 per cent.
The Nifty Bank index, which hit a fresh record high of 40,587 in the intra-day trade, closed at an all-time closing high of 40,324. 10 of the 12 index constituents ended in the green led by Federal Bank (up 7 per cent), AU Small Finance Bank (3 per cent), RBL Bank, Kotak Bank, Axis Bank, and Bandhan Bank.
Next week, markets will react to Q2 results of RIL and ICICI Bank on Monday and will then focus on other corporate results. Maruti Suzuki, L&T, ITC, Axis Bank, Adani Enterprises, and SBI Life are some of the companies slated to report their results next week.
In the primary market, FSN E-Commerce Ventures, operator of Nykaa beauty stores, has fixed the price band of Rs 1,085-Rs 1,125 for its maiden public share sale. The initial public offering (IPO) will remain open on October 28 and close on November 1. At the top-end, the beauty startup will be valued at Rs 53,200 crore ($7 billion).