Nifty ends below 9,600 with marginal gains; key indices see second consecutive weekly fall

Mumbai: Stocks Friday settled at around the previous level as the NSE Nifty closed with a measly gain in a choppy trade, taking solace from May export data.

But the flagship Sensex cut a sorry figure as it closed at a three-week low, hit by selling towards the close.

Both the indices registered their second straight weekly fall by losing 205.66 points, or 0.65 percent, and 80.20 points, or 0.82 percent, respectively.

"Market continued to consolidate due to lack of major triggers to support the upmove while FIIs were net sellers, which added fears to the stability of the rupee. The USFDA overhang continues to impact pharma," said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

Reuters

Reuters

At one point, the broader Nifty went past the 9,600-mark. At the close, however, it was up 10 points, or 0.10 per cent, at 9,588.05.

After a higher opening, the Sensex scaled the day's high of 31,182.73, but closed down 19.33 points, or 0.06 percent, at 31,056.40. The index was seen nearer to this level on 26 May when the closing was 31,028.21.

The gauge had lost 80.18 points in the previous session.

Risk appetite got a push after India's exports grew 8.32 per cent to $24.01 billion in May. Global crude falling to a 7-month low supported the positive mood.

However, trade deficit soaring to nearly 30-month high of $13.84 billion, largely due to increase in gold imports, forced investors to go in for a cautious approach.

Asia saw a mixed trend and Europe a higher opening.

Tata Motors led from the front, up 1.57 percent, on its fund-raising plans. ITC Ltd, Adani Ports, SBI and NTPC rose.

Lupin ended with most losses, down 4.40 percent. Ipca Laboratories tanked 8.08 percent amid increasing scrutiny from the US healthcare regulator.

While the BSE FMCG rose followed by consumer durables, the healthcare index slumped 1.52 percent.

The broader markets pulled ahead, outperforming the key indices.

Domestic investors bought shares worth a net Rs 854.85 crore while foreign portfolio investors sold shares worth Rs 654.35 crore yesterday, as per provisional data.


Updated Date: Jun 16, 2017 18:05 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See