Business

Sensex And Nifty Close Lower As Finance Shares And TCS Drag Indices

India’s frontline equity indices ended lower on Friday, weighed down by finance stocks and TCS. At closing, Sensex fell by 230 points, or 0.28%, closing at 81,381. Nifty dropped 34 points, or 0.14%, to 24,964.

Banking Stocks Lead the Decline

The selling was driven by banking shares. Nifty Bank slipped 358 points, or 0.70%, to 51,172. However, buying interest was noted in midcap and smallcap stocks. Nifty midcap 100 rose by 276 points, or 0.47%, to 59,212, while Nifty smallcap 100 added 108 points, or 0.58%, to 19,008.

Sectors like IT, pharma, metal, and energy saw gains, while auto, financial services, and private banks lagged. HCL Tech, Tech Mahindra, and JSW Steel led gains in the Sensex pack, while NTPC, Bajaj Finance, and TCS were among the top losers.

Market Sentiment Affected by Global Trends

Market experts attributed the sideways trading to the lack of fresh triggers. Rising US bond yields and geopolitical challenges shifted foreign investors’ focus towards affordable markets, affecting domestic liquidity. On October 10, FIIs sold equities worth Rs 4,926 crore, while domestic institutional investors bought equities worth Rs 3,878 crore.

Equity markets opened on a weak note, with Sensex down by 142 points and Nifty losing 36 points at the opening bell.

Also Read: NSE To Discontinue Weekly Index Derivatives Contracts In Compliance With SEBI Guidelines

Ajaypal Choudhary

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