Nifty Closes Above 10,000, Sensex Falls 73 Points; Midcaps, Smallcaps Outperform

Out of the 51 stocks in Nifty, 22 closed in green while 29 ended in the red

The BSE Sensex took a breather on Friday after hitting record highs in previous two sessions, as disappointing quarterly earnings weighed on bank and pharmaceutical shares. Sensex closed 0.22 per cent or 73.42 points lower at 32,309.88 after falling as much as 280 points during the session. The NSE benchmark Nifty fell 6 points but closed above the psychological mark of 10,000 for the third straight day. Losses in the market were led by pharma and select banking stocks while midcap and smallcap shares outperformed.

Dr. Reddy’s Lab was the top loser in the Nifty50 pack, down 5.8 per cent, followed by Lupin and Sun Pharma, which fell 3.97 per cent and 3.86 per cent respectively. The pharma sub-index of NSE settled 2.10 per cent lower. Dr. Reddy’s quarterly profit more than halved as it was hit by regulatory hurdles and pricing pressures in the United States.

Meanwhile, ICICI Bank – which reported an 8 per cent drop in its June quarter profit – fell 3.58 per cent. Axis Bank also finished 1.9. per cent lower, extending its fall to the third straight day.
Among gainers, Yes Bank rose 3.36 per cent to be the top gainer in Nifty. HDFC, Infosys, Kotak Mahindra Bank and IndusInd Bank were the other prominent gainers in the Nifty, rising between 1.7 per cent and 2.8 per cent.

Out of the 51 stocks in Nifty, 22 closed in green while 29 ended in the red.

Meanwhile, buying was also visible in midcap and smallcap shares. The BSE Midcap index added 0.48 per cent and the BSE Smallcap index closed 0.34 per cent higher.

 

 

[“source-profit.ndtv”]