Sensex, Nifty end flat as financials decline; HDFC Bank shares tank 4.5%

Criteria stock exchange indices ended Friday’ s trading session on a weak note as banking and monetary stocks decreased.

The S&P BSE Sensex was down 53.07 points at 79,996.60 at the closing bell, while the NSE Nifty50 settled 26 points greater at 24,328.15.

Many of the other more comprehensive market indices ended in favorable area as volatility decreased.

Amongst sectoral indices, Nifty Financial Services was the leading losers together with Nifty Bank, dragged down by a over 4% decrease in HDFC Bank shares.

A rise in shares of Oil & & Gas stocks, led by ONGC and Reliance Industries Limited (RIL) assisted markets pare some losses suffered in early trade.

The leading 5 gainers on the Nifty50 were ONGC, Reliance, SBI, Britannia and Cipla. On the other hand, the greatest drags were HDFC Bank, Titan, LTIM, Tata Steel and IndusInd Bank.

Vinod Nair, Head of Research, Geojit Financial Services, stated, “The domestic market traded with a combined predisposition, with the heavy-weight banking sector functioning as a laggard. Contributing to the concern are the leading financing banks, which tape-recorded a consecutive decrease in deposit development in the June quarter.”

While Midcap and Small Cap surpassed and the particular BSE indices struck an all-time high. Internationally, financiers now wait for the United States non-farm payroll information to be launched later on today to evaluate the trajectory of the United States Fed’ s prospective rate cuts,” he included.