Sensex ends below 30000, Nifty manages to remain above 9300

Sensex ends below 30000, Nifty manages to remain above 9300

Indian markets ended lower on Friday following profit booking post the recent up in the benchmark indices coupled with not so encouraging global cues.

The barometer 30-scrip BSE Sensitive index (Sensex) slipped below the psychologically important 30,000-point mark, however, the wider NSE Nifty retained its position above the 9,300-point level.

The 50-share NSE Nifty spurted 47.95 points, or 0.51 percent to end at a lifetime high of 9,359.90.

The Sensex touched a high of 30,169.95 points and a low of 30,007.40 points during the intra-day trade.

Equities on Friday sank the most in six weeks as the Sensex crashed 267 points to settle below 30,000 while the Nifty climbed down from an all-time high after global weakness due to a renewed slide in crude prices.

According to market observers, selling pressure was witnessed in the metal, auto, oil and gas stocks.

The BSE market breadth favoured was bullish - with 1,374 advances and 1,287 declines.

The MSCI World index, which mirrors the movement in stocks, surpassed Tuesday's record to hit a new high on Wednesday.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 517.74 crore yesterday, as per provisional data released by the stock exchanges.

Not surprisingly, banking stocks rallied with the BSE Bankex ending the day as the best performing sectoral index. BSE Small-cap index closed lower by 0.84% at 15,355. The bank shed 4.21% to close at Rs 187.50 with volumes of over 2.7 crore shares.

Indian oil explorers fell on weaker crude oil prices, with ONGC and Oil India declining more than 2 percent each. Power Grid (+2.43%), TCS (+1.63%) were the top gainers on Sensex too, while Lupin (-2.79%), Adani Ports (-1.62%) traded lower.

Metal stocks were also in the limelight as the Cabinet, on Wednesday, made a decision to give "preference to domestically manufactured iron and steel products" under its infrastructure policy.

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