Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
Benchmark indices ended higher on Friday, extending the winning run to a third consecutive session.
The Sensex was up 0.26% at 72,831.94, and the Nifty was up 0.39% at 22,096.80 at the close.
On Sensex the shares of Sun Pharma, Maruti Suzuki and IndusInd Bank ended as the top gainers while on the flip side, shares of Infosys, Wipro, HCL Tech, TCS and Tech Mahindra ended as the top losers.
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On Nifty, the top gainers were UPL, Maruti Suzuki, Hero MotoCorp, Bajaj Auto and Sun Pharma, while losers were Wipro, Infosys, LTIMindtree, HCL Technologies and TCS.
In the sector-wise analysis, Nifty IT fell 2.33% while rest of all sectoral indices ended higher.
Nifty Realty and Auto rose 1.76% and 1.67% respectively while the Media and Pharma indices rose 1.25% each.
Mid and smallcap indices outperformed at the market with the BSE Midcap index rose 0.38% while the Smallcap index jumped 1.06%.
Notably, the overall market capitalisation of BSE-listed firms rose to nearly Rs 382.2 lakh crore from nearly Rs 380 lakh crore in the previous session, making investors richer by over Rs 2 lakh crore in a single session.
On the individual stock performance, a volume spike of over 400% was seen in RBL Bank, Hindustan Copper and Indus Towers.
The gold prices saw a slight increase on Friday as the cost of 24 carat gold was Rs 6798.5 per gm up by Rs 194.0. However, the cost of 22 carat gold was Rs 6227.4 per gm up by Rs.178.0.
The Information Technology (IT) shares witnessed decline and fell up to 4% on the NSE, after Accenture lowered its revenue forecast for fiscal year 2024 due to global uncertainty and weak client spending on consulting services.
The other IT giants like TCS, Infosys, HCL Technologies, Wipro, Coforge, Tech Mahindra, Persistent Systems, L&T Technology Services, LTIMindtree, and Mphasis also witnessed drop between 2 to 4%.
In the real estate sector, the share price of Prestige Estates Projects rallied over 5% in early trade after the company acquired 62.5 acres of land in Indirapuram Extension, NCR.
The rupee depreciated 35 paise to settle at an all-time low of 83.48 against the US Dollar. Forex traders said foreign fund outflows also weighed on the local unit.
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