Mumbai: Indian market indices closed modestly lower on Friday, with heavyweights such as Reliance and ITC declining.
At closing, the Sensex was down 71 points, or 0.09 percent, at 82,890, and the Nifty was down 32 points, or 0.13 percent, at 25,356.
The broader market sentiment was positive.
On the Bombay Stock Exchange (BSE), 2,483 shares were in the green, 1,473 in the red, and 111 closed without any change.
Wipro, Bajaj Finance, Finserv, Axis Bank, IndusInd Bank, Tata Steel, Tech Mahindra, Tata Motors, SBI and HCL Tech were the top gainers in the Sensex pack.
The top losers were ITC, Bharti Airtel, NTPC, Maruti Suzuki, Asian Paints, Sun Pharma, and Reliance.
Among the sectoral indices, PSU banks, metals, realty, media and private bank indices closed in the green.
FMCG, energy, and infra are closed in red.
According to market experts, “The market took a breather and ended on a flat note after the previous day’s sharp uptick. Despite domestic CPI inflation being within the RBI’s target band, increasing food prices may influence the central bank to remain prudent on rates.”
“Higher liquidity from FIIs to the domestic market and a slide in US’ 10-year yield increased the prospects of the FED rate cut, which will aid domestic sentiment,” they added.
Rupak De, Senior Technical Analyst at LKP Securities, said, “The index remained range-bound throughout the day. On the lower timeframes, the RSI has entered a bearish crossover, signalling an early indication of a potential bearish momentum reversal. In the near term, the trend may remain sideways.”
The Foreign Institutional Investors (FIIs) bought equities worth Rs 7,695 crore on September 12, while domestic institutional investors also bought equities worth Rs 1,800 crore on the same day.
For more updates Subscribe to Media Eye News
–IANS
