Stock Market Highlights: Nifty Sheds Rs 1.77 Lakh Crore In Market Cap As HDFC Bank, RIL, TCS Drag
On the NSE, 13 out of the 15 sectors ended in the red, with Nifty Defence, IT and Auto declining the most.
The Indian benchmark equity indices continued to fall for the third straight session on Friday, dragged by share prices of HDFC Bank Ltd., Reliance Industries Ltd. and Tata Consultancy Services Ltd.
The NSE Nifty 50 ended 205.4 points or 0.81% lower at 25,149.85, while the BSE Sensex closed 689.81 points, or 0.83% down at 82,500.47.
On a weekly basis, the Nifty declined 1.22% and Sensex over 1.12%. The Nifty lost Rs 1,77 lakh crore in market capitalisation on Friday.
During the week, the market witnessed range-bound activity, but on last Friday, it breached the important support level of 25,300, and post-breakdown, selling pressure intensified, according to Amol Athawale, vice president of technical research at Kotak Securities.
Shares of Hindustan Unilever Ltd., SBI Life Insurance Co. and Axis Bank Ltd were among the top gainers in the Nifty 50.
TCS, Mahindra & Mahindra Ltd. and Bajaj Auto Ltd. were among the biggest laggards.
In terms of points contribution, HDFC Bank Ltd., RIL, TCS, Bharti Airtel Ltd., and M&M dragged the index Nifty the most.
Hindustan Unilever Ltd., Axis Bank Ltd. , and Kotak Mahindra Bank Ltd. were among the stocks that led the gains in the Nifty.
On the NSE, 13 out of the 15 sectors ended in the red, with Nifty Defence, IT and Auto declining the most.
The broader market indices settled mixed, as the BSE MidCap fell 0.65% and SmallCap gained 0.70%.
The market breadth was skewed in the favour of sellers, as 1,556 stocks advanced, 2,452 declined and 157 remained unchanged on the BSE.
