Closing Bell: Sensex gains 14.23 points to close at 38,854, Nifty rises to 11,464; SBI ended as top gainer
New Delhi | Jagran Business Desk: Domestic equity benchmark Sensex and Nifty ended on a flat note on Friday amid lack of fresh buying triggers and mixed global cues.
30-share BSE Sensex closed at 14.23 points or 0.04 per cent higher at 38,854.55, while the broader NSE Nifty also registered a gain of 15.20 points or 0.13 per cent to close at 11,464.45 on Friday. India VIX dropped nearly 3 per cent to 20.68 levels.
Shares of State Bank of India (SBI), up by almost 2 per cent, ended as the top gainer on the S&P BSE Sensex followed by TCS, Tech Mahindra, HUL, Bajaj Finance, Kotak Bank and Titan.
On the other hand, IndusInd Bank, down by nearly 2 per cent, was the biggest loser. PowerGrid, Bharti Airtel, Asian Paints and HDFC Bank were among the laggards on Friday. Of 30 constituents, 10 advanced while 20 declined.
The markets remained cautious on adverse news-flows of COVID-19 vaccine trials, Sino-India geopolitical tensions and sell-off in US equities, said Sanjeev Zarbade, VP PCG Research, Kotak Securities as reported by news agency PTI.
Foreign portfolio investors sold equities worth USD 528 million over the past five trading sessions while domestic institutional investors sold USD 109 million worth of stocks, Zarbade stated.
"While the market is not in a bubble zone, we note that global cues (US markets on correction mode) have started to turn negative and FIIs have turned sellers along with domestic mutual funds," he added.
Global oil benchmark Brent crude was trading 0.35 per cent lower at USD 39.92 per barrel. In the forex market, the rupee depreciated 7 paise to close at 73.53 against the US dollar. The local unit opened at 73.50 at the interbank forex market, and settled for the day at 73.53 against the US dollar, down 7 paise over its last close.
The Sensex jumped over 100 points in early trade on Friday tracking gains in index majors Reliance Industries, HDFC Bank and Kotak Bank amid fresh foreign fund inflow.
Posted By: Talib Khan