Mumbai: India frontline equity indices closed lower on Friday as finance shares and TCS weighed on them.
At closing, the Sensex was down 230 points, or 0.28 percent, at 81,381, and the Nifty was down 34 points, or 0.14 percent, at 24,964.
Banking stocks drove the selling. Nifty Bank was down 358 points, or 0.70 percent, at 51,172.
Buying was seen in the midcap and smallcap stocks.
The Nifty midcap 100 index was up 276 points or 0.47 per cent at 59,212, and the Nifty smallcap 100 index was up 108 points or 0.58 per cent at 19,008.
Among the indices, IT, pharma, metal, media, energy, infra, commodities, and consumption were major gainers. Auto, financial services, realty, private banks, and services were major losers.
In the Sensex pack, HCL Tech, Tech Mahindra, JSW Steel, HUL, Infosys, Titan Company, Wipro, Sun Pharma, L&T, SBI, Bharti Airtel, and Tata Steel were among the top gainers. NTPC, Bajaj Finance, UltraTech Cement, Asian Paints, ITC, HDFC Bank, and TCS were the top losers.
According to the market experts, the market traded sideways due to a lack of fresh triggers for decisive momentum. The uptick in the US 10-year yield due to the unexpected rise in US core inflation and caution ahead of the result season added layers of sentiment to the market.
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‘The ongoing geopolitical challenges influenced FIIs to shift their focus towards the affordable markets, impacting the domestic market liquidity, they added.
Foreign institutional investors (FIIs) extended their selling on October 10, selling equities worth Rs 4,926 crore. On the other hand, domestic institutional investors also extended their buying, buying equities worth Rs 3,878 crore on the same day. Equity markets opened on a negative note.
At 9:24 a.m., the Sensex was down 142 points, or 0.17 percent, at 81,469, and the Nifty was down 36 points, or 0.12 percent, at 24,960.
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–IANS
