Finance
Today’s Share Market Highlights, Sensex, and Nifty Share Price : The BSE and NSE indices extended their losses for the third consecutive day, settling nearly 2% lower on Friday, weighed down by market heavyweight Reliance Industries (RIL) and IT stocks amid a sharp selloff in the global market.
The S&P BSE Sensex fell 1,093.22 points (1.82 percent) to 58,840.79, while the Nifty 50 fell 346.55 points (1.94 percent) to 17,530.85. Both indices had opened around 0.5% lower and continued to fall as the day progressed, with the BSE benchmark touching an intraday low of 58,687.17 and the broader Nifty touching 17,497.25.
On the Sensex, the top losers on Friday were Tech Mahindra, Ultratech Cement, Infosys, Mahindra & Mahindra (M&M), Nestle India, Wipro, Tata Consultancy Services (TCS), RIL, Dr. Reddy’s Laboratories, Asian Paints, HCL Technologies, and Bajaj Finserv, which fell between 2-4.5 percent. Only IndusInd Bank and Axis Bank finished in the black.
In the broader market, the S&P BSE MidCap index fell 748.99 points (2.85%) to 25,558.21, while the S&P BSE SmallCap index fell 712.12 points (2.38%) to 29,199.39.
Commenting on the market, Deepak Jasani, Head of Retail Research at HDFC Securities said, “Nifty ended the week down by 1.59 per cent. Markets seem to have started the downward move after forming triple top on daily charts over the last three days. On weekly charts, Nifty has formed a bearish Dark Cloud Cover. 17,401 and 17,170 are the next levels on the downside that may provide temporary support. On upmoves, 17,771 may be difficult to breach in the near term.”
Source:IE
