The Indian stock market witnessed a mixed trend on Friday, with the benchmark indices Sensex and Nifty50 closing in the red. The Sensex ended the day at 38,845.82, down by 129.18 points or 0.33%, while the Nifty50 closed at 11,504.95, down by 29.15 points or 0.25%.
The market opened on a positive note, with the Sensex rising by over 100 points in early trade. However, it soon turned volatile and slipped into the negative territory. The Nifty50 also followed a similar pattern, opening higher but eventually closing in the red.
The top gainers on the Sensex were Tata Steel, Bajaj Finance, and HDFC Bank, while the top losers were Reliance Industries, HDFC, and ICICI Bank. On the Nifty50, the top gainers were Tata Steel, Bajaj Finance, and JSW Steel, while the top losers were Reliance Industries, HDFC, and ICICI Bank.
The market sentiment was affected by the rising number of COVID-19 cases in the country and the ongoing border tensions with China. Investors also remained cautious ahead of the US Federal Reserve Chairman’s speech at the Jackson Hole symposium.
In the global markets, Asian stocks were trading mixed, with Japan’s Nikkei and Hong Kong’s Hang Seng index closing in the green, while China’s Shanghai Composite index ended in the red. In the US, the Dow Jones Industrial Average and the S&P 500 closed at record highs on Thursday.
On the sectoral front, the Nifty Metal index was the top gainer, rising by 1.5%, followed by the Nifty Realty and Nifty Bank indices. On the other hand, the Nifty IT and Nifty Pharma indices were the top losers, falling by 0.8% and 0.6%, respectively.
In the currency market, the Indian rupee opened at 74.93 against the US dollar, slightly higher from its previous close of 74.95.
Overall, the stock market witnessed a mixed trend today, with the benchmark indices closing in the red. The market sentiment was affected by various factors, including the rising number of COVID-19 cases and global cues. Investors will continue to monitor the developments and remain cautious in the coming days.
