Indices cut early losses to finish slightly lower, Sensex slips 111 points

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Sensex, Nifty, stock prices today: The benchmark BSE and National Stock Exchange (NSE) equity indices pared their losses for the day to end down around 0.2% on Friday, weighed by market heavyweight Reliance Industries (RIL).

The S&P BSE Sensex slid 111.01 points (0.21%) to end at 52,907.93 while the Nifty 50 stood at 15,752.05, down 28.20 points (0.18 %). Both indices had opened more than 0.5% earlier in the day and slid more than 1.7% during intraday trading before paring losses towards the final hour of the session.

On the Sensex pack, RIL was the biggest loser Friday followed by Power Grid Corporation of India, Bharti Airtel, NTPC, Maruti Suzuki India and Sun Pharmaceutical Industries. In contrast, ITC, Bajaj twins – Bajaj Finance and Bajaj Finserv, Asian Paints, Hindustan Unilever (HUL) and Housing Development Finance Corporation (HDFC) were the main gainers.

All sector indices on NSE ended higher except for Nifty Oil & Gas which fell 4.17% after the government imposed an export tax on gasoline, diesel and jet fuel (ATF). On the other hand, Nifty FMCG jumped 2.82%, Nifty Realty climbed 1.58% and Nifty Healthcare Index rose 1.05%.

In the broader market, the S&P BSE MidCap Index ended at 21,858.93, up 145.69 points (0.67%) while the S&P BSE SmallCap came in at 24,807.74, up increase of 21.32 points (0.09%).

“Unfavorable signals from the domestic market led to a weak start due to weak rupiah and oil refinery sales as the government imposed an additional export duty on petrol and diesel. India’s industrial production growth slowed in June as high inflation continued to dampen demand, but the FMCG sector saw strong buying supported by lower commodity prices , confident that prices have peaked,” said Vinod Nair, head of research at Geojit Financial Services.

Global market

European stocks edged higher after Asian benchmarks ended lower on Friday as a quarterly report from Japan’s central bank rekindled concerns about the world’s third-largest economy. Shares were slightly higher in Europe at the start of the session, after finishing lower in Asia, down in Tokyo, Seoul, Sydney and Shanghai. Markets were closed in Hong Kong for a holiday. Oil prices fluctuated throughout the day.

In Paris, the CAC 40 gained 0.4% to 5,946.61, while the German DAX edged up 0.3% to 12,820.65. Britain’s FTSE 100 added 0.2% to 7,180.70. Dow Industrials futures slipped 0.4% to 30,664.00. The S&P 500 future fell 0.3% to 3,777.00.

Japan’s benchmark Nikkei 225 fell 1.7% to end at 25,935.62. Australia’s S&P/ASX 200 edged down 0.4% to 6,539.90. The South Korean Kospi fell 1.2% to 2,305.42. The Shanghai Composite fell 0.3% to 3,387.64.

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