Sensex Tumbles 183 Pts; HDFC, RIL, TCS Track Losses
Metals, pharma, and realty indices shined, while the IT index remained soft after TCS missed earnings estimates
The BSE benchmark Sensex slipped 182.75 points on Friday, and settled at 52,386.19, tracking losses in index majors HDFC Bank, Reliance Industries, and TCS. The broader NSE Nifty dropped 38.10 points or 0.24 per cent to close at 15,689.80.
Bajaj Auto was the top loser in the Sensex pack, shedding around 2 per cent, followed by TCS, HDFC Bank, Axis Bank, Reliance Industries and Tech Mahindra.
On the other hand, Tata Steel, Bajaj Finserv, Bharti Airtel, and NTPC were among the gainers.
Domestic equities traded on a weak note mainly led by continued profit-booking in financials said Binod Modi, Head - Strategy at Reliance Securities.
However, metals, pharma, and realty indices shined, while the IT index remained soft after TCS missed earnings estimates, he said, adding that buying momentum remained visible in midcap and smallcap stocks as improved earnings prospects attracted investors' interest.
"While visible improvement in business momentum with ease of business curbs by states started offering comfort, the recent uptick in daily caseload and increasing positive rate could be a near term risk as we saw Japan imposing fresh restrictions in Tokyo,” he noted.
In the Asian market, bourses in Shanghai, Seoul, and Tokyo ended in the red, while Hong Kong was positive.
Stock exchanges in Europe were trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 1.08 per cent to $74.92 per barrel.