Indian Stock Market Ends Lower, IT Sector Shines
India's domestic benchmark indices closed lower on Friday, with the IT sector closing in the green after a gain of 3.44 percent.
Mumbai: India’s domestic benchmark indices closed lower on Friday, with the IT sector closing in the green after a gain of 3.44 percent.
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Sensex ended at 77,378.91, down by 241.30 points, or 0.31 percent, while Nifty settled at 23,431.50, down by 95 points, or 0.40 percent.
Sector Performance
Nifty Bank ended at 48,734.15, down by 769.35 points, or 1.55 percent. The Nifty Midcap 100 index closed at 54,585.75 after dropping 1,160.15 points, or 2.08 percent, while the Nifty Smallcap 100 index closed at 17,645.55, declining by 472.80 points, or 2.61 percent.
Market Sentiment
According to market experts, domestic market sentiment remained subdued due to rising crude oil prices, driven by supply concerns, and a strengthening dollar index.
“Despite the IT sector’s resilience following positive early Q3 results, broader indices bled due to uncertainties surrounding US President-elect Donald Trump’s policies and high valuations. Consolidation may persist in the near term, yet investors are closely watching the US non-farm payroll data today for further guidance,” they added.
IT Sector Resilience
Buying was seen in the IT sector after strong Q3 results of Tata Consultancy Services (TCS), which saw its stock jumping 5.60 percent at Rs 4,265 apiece.
Market Breadth
On the Bombay Stock Exchange (BSE), 829 shares ended in the green, while 3,162 shares ended in the red. There was no change in 87 shares.
Top Gainers and Losers
In the Sensex pack, IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, SBI, PowerGrid, Tata Steel, Kotak Mahindra Bank, and Titan were the top losers. TCS, Tech Mahindra, HCL Tech, Infosys, Bajaj Finserv, Bharti Airtel, Hindustan Unilever, L&T, and Bajaj Finance were the top gainers.
Also Read: Indian Stock Market Ends Lower as Q3 Results Season Kicks Off
Institutional Activity
Foreign institutional investors sold equities worth Rs 7,170.87 crore on January 9, while domestic institutional investors bought equities worth Rs 7,639.63 crore on the same day.
