Sensex, Nifty Trade Low As Infosys, ICICI Bank, SBI Decline: Midday Market Update
As of 12:40 p.m., Nifty was 59.05 points, or 0.27% down at 21,715.25, while Sensex was 192.65 points, or 0.25% lower at 72,214.85.
India's benchmark stock indices fell during midday on Friday as Infosys Ltd., ICICI Bank Ltd., and State Bank of India dragged. A decline in financial services, and information technology sector stocks also exerted pressure on the indices.
As of 12:40 p.m., the NSE Nifty 50 was 59.05 points, or 0.27% down at 21,715.25, while the S&P BSE Sensex was 192.65 points, or 0.25% lower at 72,214.85.
The indices snapped a four-day winning streak and opened lower. Intraday, the Nifty declined 98.60 points, or 0.45% to 21,680.10, while Sensex fell 317.83 points, or 0.44% to 72,092.55.
"Reflecting on a challenging yet resilient year, Nifty surged from Jan-March lows to a record high of 21801.45 in December, concluding with a 20% gain and an impressive 191% rise from March 2020. Positive catalysts, including a dovish Federal Reserve, BJP's victories, and optimism in India's growth, marked 2023 as a banner year for Dalal Street," said Prashanth Tapse, senior vice president at Mehta Equities Ltd.
Adani Enterprises Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., Tata Consumer Products Ltd. and Tata Motors Ltd. were positively contributing to changes in the Nifty.
Whereas, Infosys Ltd., ICICI Bank Ltd., Kotak Mahindra Bank Ltd., Reliance Industries Ltd. and State Bank of India were weighing the index.
On NSE, 10 of the 14 sectors were trading in red, and four were trading in green. Nifty PSU Bank was the top loser, trading 0.78% down. Nifty Auto rose the most, trading up 1.23%.
The Nifty Midcap 100 touched a life-high on the last trading session of the year.
Broader markets outperformed benchmark indices; the S&P BSE MidCap rose 0.46% and the S&P BSE SmallCap gained 0.54%.
Eight sectors on the BSE fell, while 12 sectors advanced. BSE Auto rose the most, while BSE Oil and Gas fell the most.
Market breadth was split between buyers and sellers. Around 1,957 stocks rose, 1,647 shares decline, and 164 remained unchanged on BSE.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
