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Indian equity markets ended a week of consolidation with losses, as benchmark indices continued to face pressure at higher levels.
The S&P BSE Sensex ended 1.13% lower at 37,877 while the NSE Nifty 50 index ended 1% lower at 11,181. Both benchmarks recovered marginally from the day's low.
Auto and PSU Banks were the top laggards in today's session with both the indices ending lower by 2.5% each.
The top three laggards on the Nifty 50 index were Auto stocks, namely Eicher Motors (down 7.1%), Tata Motors (Down 4.8%) and M&M (Down 3.3%). The Auto index snapped an eight-day gaining streak.
The Nifty Bank index to fell over 2% in today's trading session.
FMCG and Media indices were the other sectoral indices, declining over 1% each.
Broader markets too fell in tandem with the benchmark indices. The midcap index ended 0.9% lower while the smallcap index ended with losses of 1.2%
India Volatility Index ended 5.8% higher, snapping an eight-day losing streak to end above the mark of 20 at 21.77.
Market breadth was in favour of the laggards. 1,130 stocks on the NSE ended with losses while 710 posted gains.
For the week, the Nifty ended with losses of 0.3% while the Sensex posted losses of 0.4%.
Source: RBI
Shares ended 1.3% higher at Rs 88.40.
Shares fell as much as 5% to Rs 60.3, post the announcement. The stock is down for the third straight day.
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Shares fell as much as 2.4% to Rs 603.55, post the announcement.
Shares gave up gains to fall as much as 1.2% to Rs 694.25, post the announcement.
Shares ended 4.85% higher, cooling off from gains of as much as 12.7% at Rs 517.8.
Let's take a look at how benchmark indices across Europe have opened:
India's wholesale prices remained negative in July, falling more than economists expected.
Wholesale prices in July fell 0.58%. Estimates of 19 economists ranged from a decline of 1.5% to a rise of 5.4%.
Primary article prices rose 0.63% compared to the previous year.
Fuel, power and lighting prices declined 9.84% compared to last year.
Manufactured product prices rose 0.51% year-on-year.
Wholesale food prices rose 4.08% as compared to the previous year.
Shares fell as much as 5% - the most in four months to Rs 20,800.
Shares fell as much as 5.3% - the most in three months to Rs 1,311.5.
Shares ended 16.3% higher - the most since May 2009 at Rs 109.4, the highest level in five months.
Shares fell as much as 7.9% - the most in five months to Rs 9,776. The stock is down for the fourth straight day.
The rupee remains little changed, as has been the case over the last two weeks.
The currency opened at 74.8475 against the U.S. Dollar as compared to Thursday's close of 74.8450.
Yield on the 10-year bond opened for trade at 5.931% as compared to Thursday's close of 5.866%. Yields are rising after July's retail inflation print.
Retail inflation in July came in near the 7% mark, decreasing the likelihood of further rate cuts.
Within the bond markets today, traders will look forward to the bond auction worth Rs 30,000 crore after a shorter-tenor note saw poor demand in last week's sale.
We may also get details about the RBI's dividend payout to the government after its board meeting today.
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Shares ended 7% lower - the most in three months at Rs 20,144.
Shares gained as much as 6.55% to Rs 124.45 and have snapped a four-day losing streak.
Indian markets look poised to post gains for the week, after opening with gains for the final trading day of the week.
The S&P BSE Sensex opened 0.3% higher at 38,432 while the NSE Nifty 50 index gained 0.47% at the start of trade to open at 11,353.
As of closing on Thursday, both Sensex and Nifty are up 0.7% on a weekly basis.
Among the sectoral indices, the media index has opened 0.9% higher while the Pharma index has opened with gains of 0.6% after three straight days of decline.
Broader markets are moving in tandem with the benchmarks. The midcap index has gained 0.5% while the smallcap index is up 0.6% at the start of trade.
Market breadth was in favour of the gainers. 1,125 stocks on the NSE opened with gains while 371 opened with losses.
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