Sensex slips 49 Points, Nifty settles below 16,600; Auto Stock Drag
Sensex slips 49 Points, Nifty settles below 16,600; Auto Stock Drag
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Losses in automobile and banking companies countered gains in technology and index heavyweight Reliance Industries, resulting in a negative close for Indian equity benchmarks on Friday (RIL). During late trades, the domestic indices fell into the negative zone due to profit-booking, wiping out all of their early gains. Yesterday, the equity benchmarks turned positive, ending a two-day losing streak.

The 30-share BSE Sensex slid 49 points, or 0.09 percent, to 55,769, while the broader NSE Nifty fell 44 points, or 0.26 percent, to 16,584. During today's session, the Sensex moved in a 713-point range. Mid- and small-cap stocks finished lower, with the Nifty Midcap 100 down 1.64 percent and the small-cap index up 0.86 percent.

The NSE's 15 sector gauges all ended the day in the red. Nifty Auto, Nifty Consumer Durables, and Nifty Bank, among other sub-indices, underperformed the platform by 1.82%, 1.47%, and 0.95%, respectively. The largest Nifty loser was Grasim Industries, which fell 6.53 percent to Rs. 1,339. 

UltraTech Cement, Shree Cement, Hero MotoCorp, and Maruti. UltraTech Cement, Maruti, NTPC, Axis Bank, Bajaj Finserv, IndusInd Bank, M&M, Bharti Airtel, Tata Steel, Nestle India, SBI, ICICI Bank, and Titan were among the worst performers on the 30-share BSE index.

On the other hand, Reliance Industries, Infosys, L&T, HCL Tech, Sun Pharma, TCS, Hindustan Unilever, Wipro, Tech Mahindra, PowerGrid, and Dr. Reddy's  came out on top.

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