New Delhi: The BSE Sensex and the Nifty opened on a weak note on Friday tracking other Asian shares, which were mostly lower. As of 9:18 am, the Sensex was down 92 points or 0.19% at 49,653.72 and the Nifty was down 0.24% or 36.10 points at 14,837.70.
Banking stocks continued to remain under pressure; Nifty Bank, the banking sub-index of NSE was down 1.23%. Analysts say banks will bear the brunt of fresh curbs imposed in few states to contain the second wave of Covid infections. However, IT, metal, FMCG and pharma stocks witnessed buying.
Among Nifty stocks, Bajaj Finance was the top loser, down 2.12% followed by ICICI Bank and Axis Bank, which fell 1.62% and 1.03% respectively. L&T, Bharti Airtel, IOC, HDFC Bank, Tech Mahindra, Nestle, Bajaj Finserv, SBI were the other big losers in the Nifty.
HUL was the top gainer in the Nifty, up 2.42% followed by Adani Ports and Sun Pharma, which gained 1.31% and 1.24% respectively. JSW Steel, ITC, Cipla, Grasim, Power Grid Corp, Titan Company, Ultratech Cement, Bajaj Auto, Eicher Motors were the other gainers in the Nifty.
On Thursday, the Sensex closed 84.45 points or 0.17% higher at 49,746.21, and the Nifty closed 54.80 points or 0.37% higher at 14,873.80. Foreign portfolio investors bought Indian equities worth Rs 111 crore in the cash segment on a provisional basis and were net buyers to the tune of Rs 524 crore in the futures & options segment. They increased their net long positions in index futures to 61% as compared to 60% on the previous day. That’s above the April average of 58%. Domestic institutions bought Indian equities worth Rs 553 crore in the cash market.
Asian shares were mixed on Friday. Japan's Nikkei was up 0.44%, China's Shanghai Composite fell 0.74%, Taiwan Weighted shed 0.31% while the Hang Seng and the kospi index of South Korea fell 0.95% and 0.16% respectively. Overnight the S&P 500 index in the US closed at record high following a drop in treasury yields. S&P closed 0.42% higher while the Nasdaq and the Dow Jones settled 1.03% and 0.17% higher respectively.