Swinging between gains and losses, Benchmark indices finally closed lower despite the FM tabled Economic Survey 2020-21 in the Lok Sabha. At the close, Sensex shed 588 points to close at 46285 while Nifty was dragged to 13634, losing 1.32 percent or 182 points.
Top losers in the weekend session include Dr. Reddy's Labs, Maruti Suzuki, Tata Steel, Hero Motocorp and Wipro among others, while Top gainers on the Nifty in trade were IndusInd Bank, Sun Pharma, ICICI Bank, HDFC Bank and HDFC Life,
On weekly basis, Both the benchmarks posted their second consecutive weekly loss. It is the first time that the Sensex and Nifty have declined for two straight weeks since May last year.
The Nifty Realty index was the only other sectoral gainer, ending 0.5 percent higher. Banking tocks outperformed for the second straight day on Friday. The Nifty Bank ended 0.7 percent higher at 30,565 while the PSU Bank index ended with gains of 1.7 percent.
Selling pressure was seen in all other indices with the Nifty Auto and Nifty I.T. indices declining over 2.5 percent each. The Nifty Metal index fell 1.9 percent while the Nifty Pharma index fell 1.8 percent in today's session. The FMCG index too saw a drop of 1.5 percent.
Broader markets ended lower but the losses were modest as compared to the benchmark indices. The Midcap index ended 0.4 percent lower while the Smallcap index fell 0.6 percent.
Singapore Airlines will not come with Tata group to buy Air India
Budget session of parliament will begin today, 16 political parties to boycott President's address
India ranks tenth in Asia-Pacific Personalised Health Index