Stock Market ends in the red; rupee touches a record low

The Indian Stock Market ended lower on Friday amid weakness in select sectors while the Indian rupee also touched a record low, weighing on market sentiment.

At close, the Sensex fell 160.73 points or 0.21 percent to settle at 75,237.99, while the Nifty declined 46.10 points or 0.19 percent to close at 23,643.50. BSE 150 Midcap index fell 0.48%, while the BSE 250 Smallcap index declined 0.37%

Advertisement

On the Nifty, the top gainers were Infosys, Tech Mahindra, and Power Grid while Tata Steel, Eternal, and Reliance Industries ended as the top losers.

In terms of sectors, 13 of the 16 major sectors logged weekly losses. Metal, Oil and Gas, PSU Bank, Realty, Energy, and Commodities fell more than 1% each while IT stocks rose more than 1%.

The Indian Rupee weakened sharply this week, sliding over Rs 1.60 against the US dollar.

Adani Enterprises rose 8.4 percent this week while ONGC gained 7.2 percent.

Brent crude rose over 3 percent to USD 109.09 per barrel.

Globally, Asian markets traded lower, tracking the global economic outlook. South Korea’s Kospi, Japan’s Nikkei 225 and Hong Kong’s Hang Seng were trading in negative territory.

Shares of major oil marketing companies remained under pressure.

Indian Oil Corporation was down 4.12 per cent, Hindustan Petroleum Corporation declined 2.95 per cent, and Bharat Petroleum Corporation slipped 3.58 per cent.

In terms of weekly, the Nifty 50 and Sensex each closed with losses of 2.22% and 2.65%, ending their two consecutive weeks of gains.