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PremiumThe benchmark equity indices on Friday clocked worst week in over a month amid global cues and key inflation data.
Sensex closed at 39,452.07 falling 289.29 points, or 0.73% while Nifty dropped by 90.75 points, or 0.76%, at 11,823.30.
The broader market also ended in the red with BSE Midcap and Smallcap tanking 1.06% and 0.76% respectively.
IndusInd Bank, Tata Motors, Bharti Airtel, Axis Bank and Kotak Mahindra Bank were the biggest laggards on Sensex falling as much as 4.36%.
However on Nifty, Indiabulls Housing Finance (-4.53%), Zee Entertainment (-4.50%) and Eicher Motors (-2.54%) were also among top five losing stocks along with IndusInd Bank and Bharti Airtel.
Globally, Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices as attacks on tankers in the Gulf of Oman stoked the US-Iran tensions and raised concerns over supply flows through one of the world's main sea lanes.
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed. Australian stocks edged up 0.05% while Japan's Nikkei dipped 0.1%.
US stocks rose on Thursday after two days of declines, with energy shares rebounding on the back of crude oil's surge. Wall Street shares have had a strong run in June on hopes the Federal Reserve will ease monetary policy soon to counter a slowing global economy due to the escalating trade war with China.
Sensex trades at 39,420.06 down 321.30 points, or 0.81%, while Nifty down 101.00 points, or 0.85%, at 11,811.40.
Zee Entertainment, IndusInd Bank, Bharti Airtel, Axis Bank and Bajaj-Auto are the top losing stocks on NSE, tumbling as much as 4.55%.
Automobile dealers' body FADA on Friday said retail sales of passenger vehicles (PV) in May declined by 1 per cent to 2,51,049 units as compared to the same period last year.
According to Federation of Automobile Dealers Associations (FADA), PV sales stood at 2,53,463 units in May 2018.
(From PTI)
From the early trends, the broader index continues to remain under pressure with BSE Midcap and Smallcap both slipping by 0.49% and 0.35% respectively.
Nifty Media tanks 2.66% becoming the worst performing sector on NSE. Shares of Zee Entertainment was the biggest laggard tumbling 6.14% followed by Dish TV (-5.58%) and Eros Media (-4.19%).
1) With positive momentum of the last two months intact, the mutual funds (MF) industry created a new record in May'19 - total AUM hit the ₹25.9 lakh crore (+4.6% MoM) mark, surpassing the previous high of ₹25.2 lakh crore in August 2018.
2) The month saw a notable change in sector and stock allocation of funds. Weight of Domestic Cyclicals' increased 160 bp to 10-month high of 62.9%, as weight of Capital Goods, Financials and Cement increased while that of Autos moderated.
3) In May’19, of the top 10- stocks in terms of value increase MoM, seven were from Financials
4) Private Banks — the top sector holding of MFs - saw its weightage increase for eight successive months to climb to a new high of 19.7%.
1) WPI Inflation At 2.45% vs 3.07% MoM
2) Wholesale food inflation at 5.1%
3) Fuel and Power inflation at 0.98% vs 3.84% (MoM)
4) Vegetables inflation at 33.15% vs 40.65% MoM
5) March WPI inflation revised to 3.10% from 3.18% earlier
6) May Wholesale inflation at lowest level since July 2017
Drug major Sun Pharma in a stock exchange filing said first trial of ILUMYAâ„¢ for psoriatic arthritis patients met primary efficacy endpoint, with no evident safety concerns. Over 71% of patients Treated with ILUMYAâ„¢ achieved ACR20 response after 24 weeks, with significant improvement as early as 8 weeks.
Shares of the company trades down 1.76% at ₹383.25 on BSE.
IndusInd Bank (-3.85%), Sun Pharma (-2.46%), Yes Bank (-2.05%), Kotak Mahindra Bank (-1.52%) and Tata Motors (-1.45%) were the worst performing stocks on Sensex so far.
Shares of Gruh Finance slipped over 6% after the promoter HDFC sold more than 4% of the company's paid-up capital in the open market. On BSE, the company trades at ₹288.90 down 6.35%.
Shares of Hexaware Technologies trades up 2.88% at ₹355.90 on BSE after the company acquired US-based Mobiquity in $182 million cash deal. On NSE, the Hexaware trading at ₹358 up 3.30%.
Railway consultancy firm, RITES, informed the exchanges that it will consider proposal for issuance of bonus share on 24 June.
Shares of the company was trading at 4.82% higher at ₹290.25 on BSE.
All the 11 sectors compiled on Nifty trades lower with Nifty Realty being the worst performer tanking 1.46%.
Sensex on Friday opened at 39,724.39 falling 16.97 points, or 0.04%. Nifty also was down 16.55 points, or 0.14%, at 11,901.45.
IT firm Hexaware on Friday said it has acquired US-based Mobiquity Inc for a total consideration of about $182 million (approximately ₹1,266 crore).
Mobiquity creates digital products for brands like Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka. Mobiquity group revenue was $70 million for the year ended 31 December 2018.
"This is the largest ever investment by Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms," Hexaware said in a statement.
Rupee opens unchanged as against Thursday's close of 69.51/$.
Sensex opened at 39,837.61 up 96.25 points, or 0.24% during the pre-open session, while Nifty also rose 7.85 points, or 0.07%, at 11,914.05.
Trends on SGX Nifty indicates a negative opening for the broader indices in India. The index closed 0.28% lower at 11,886.50
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