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Equity benchmark indices Sensex and Nifty closed with modest losses for the second straight session on Friday, following selling in IT stocks amid a lack of fresh buying triggers.
In a highly volatile trade, the 30-share BSE Sensex declined 47.77 points or 0.07 per cent to settle at 65,970.04. During the day, it gyrated 207.59 points, hitting a high of 66,101.64 and a low of 65,894.05.
The Nifty slipped 7.30 points or 0.04 per cent to 19,794.70.
Among the Sensex firms, HCL Tech, Wipro, Tata Consultancy Services, Tech Mahindra, Nestle, Tata Motors, Infosys, Bharti Airtel, UltraTech Cement and Tata Steel were among the laggards.
On the other hand, Axis Bank, HDFC Bank, ICICI Bank, JSW Steel, Mahindra & Mahindra and Kotak Mahindra Bank were the major gainers.
In Asian markets, Tokyo settled in the green while Seoul, Shanghai and Hong Kong ended lower.
European markets were trading mostly in the positive territory. The US markets were closed for Thanksgiving holiday on Thursday.
Global oil benchmark Brent crude climbed 0.18 per cent to USD 81.57 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 255.53 crore on Thursday, according to exchange data.
The BSE benchmark dipped 5.43 points or 0.01 per cent to settle at 66,017.81 on Thursday. The Nifty slipped 9.85 points or 0.05 per cent to 19,802.
Rupee falls 3 paise to close at 83.37 against US dollar
The rupee edged 3 paise lower to close at 83.37 (provisional) against the US dollar on Friday, tracking higher demand for US dollars from importers and a weak tone among Asian currencies.
Forex traders said a muted trend in domestic equities also weighed on the local unit. At the interbank foreign exchange market, the local unit opened at 83.33 and touched an all-time low of 83.38 against the greenback. It finally settled at 83.37 (provisional) against the dollar, registering a fall of 3 paise from its previous close. On Thursday, the rupee settled at 83.34 against the American currency.
The Indian rupee depreciated on Friday on demand for dollars from importers and weak tone in Asian currencies. However, a softness in the US Dollar and a decline in crude oil prices cushioned the downside, Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, said. “We expect the rupee to trade with a slight negative bias due to weak global markets and expectations of a recovery in the US Dollar index. However, IPO-driven Dollar inflows and a weak tone in crude oil prices may support the local currency. “Traders may take cues from PMI data out of the US today evening. USDINR spot price is expected to trade in a range of 83.10 to 83.70,” he said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.18 per cent lower at 103.73. Brent crude futures, the global oil benchmark, rose 0.28 per cent to USD 81.65 per barrel.
On the domestic equity market front, Sensex fell 47.77 points, or 0.07 per cent, to settle at 65,970.04 points. The Nifty advanced 7.30 points, or 0.04 per cent, to 19,794.70 points.
Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth Rs 255.53 crore, according to exchange data.
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