Stock market closing Updates: On the week ended Friday, equity markets were volatile, swinging sharply throughout the day as every buyer of a deal saw selling pressure on the top. During the day, the BSE Sensex reached a high of 58,269 and a low of 57,851 before finishing at 58,191. It decreased by 31 points, or 0.05 percent, from Thursday's close.
On the other hand, the NSE Nifty50 closed at 17,315, down 17 points or 0.1 percent. Energy, IT, FMCG, and banking companies were major drags on the benchmark indices, with Tata Consumer Products, Mahindra and Mahindra, Coal India, BPCL, SBI, TCS, JSW Steel, Adani Ports, HCL Tech, and ITC among the biggest losers. Titan Company, IndusInd Bank, PowerGrid, Grasim, and Maruti Suzuki all saw gains of over 1 percent after trimming losses.
The BSE MidCap index decreased 0.15 percent in the overall markets, while the BSE SmallCap index increased 0.30 percent.
Bond yields and Rupee: The rupee fell to a new low against the US dollar on Friday as US Federal Reserve officials announced a significant amount of rate increases in the future, strengthening the dollar around the world. The rupee fell to a low of 82.42 against the dollar during the day, breaking through the 82-per-dollar barrier for the first time. Its previous low for the dollar was 81.95. Meanwhile, during the day, 10-year government bond yields rose back above 7.5 percent.
International Markets: After a choppy week, European markets were mixed on Friday as investors around the world await the release of a significant monthly jobs report from the United States. By mid-morning, the pan-European Stoxx 600 index had slightly risen, with IT companies down 1 percent and food and beverage stocks up 0.9 percent.
On Friday, markets in the Asia-Pacific region declined, with losses led by the Hang Seng index in Hong Kong. In early premarket action, US stock futures were divided.
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