Updated: January 15, 2021 4:18:15 pm
The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 1 per cent lower on Friday weighed by the shares of Infosys, Housing Development Finance Corporation (HDFC), ICICI Bank and Reliance Industries (RIL).
The S&P BSE Sensex declined 549.49 points (1.11 per cent) to settle at 49,034.67, while the broader Nifty 50 slipped 161.90 points (1.11 per cent) to end at 14,433.70.
Just four stocks in the BSE benchmark ended in the green. Tech Mahindra, HCL Technologies, Oil and Natural Gas Corporation (ONGC), Asian Paints, Ultratech Cement and HDFC were the top laggards on the Sensex, while Bharti Airtel and ITC were the gainers on Friday. (see heatmap below)
All the sectoral indices on the NSE ended in the negative territory on Friday with the Nifty IT index being the worst hit as it fell 2.24 per cent dragged by Tech Mahindra, Coforge, HCL Tech and Wipro. Separately, the Nifty PSU Bank index also slipped 2.06 per cent on Friday weighed by Indian Bank, Canara Bank and Punjab National Bank.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index ended at 18,904.14, down 238.86 points (1.25 per cent), while the S&P BSE SmallCap index settled at 18,682.12, down 200.11 points (1.06 per cent).
“Indian benchmark equity indices ended lower on the back of profit booking on Jan 15 amid weak global cues. The Nifty kept falling since opening with small bounces in between and made a bottom at 1415 Hrs…The Nifty has given the first signs of reversing after a steep rise. Advance decline ratio has also raised concerns over the last few days of possibility of a formation of a short term top. 14563-14256 are the resistance/supports for the Nifty in the near term,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
Global shares stumbled on Friday as hopes of a fiscal boost provided by a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
European stocks followed Asian markets lower, with the pan-European STOXX 600 down 0.4 per cent and London’s FTSE 100 0.6 per cent weaker, with the latter clobbered by data showing Britain’s economy shrank in November for the first time since the initial COVID-19 lockdown last spring as social-distancing rules tightened.
The MSCI world equity index, which tracks shares in 49 countries, was 0.2 per cent lower. S&P 500 e-mini futures shed 0.3 per cent to 3,779.
Earlier on Friday, an Asian regional share index had edged near record highs after US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world’s largest economy and accelerate its response to the coronavirus.
–global market input from Reuters
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