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Benchmark Indian equity indices, BSE Sensex and Nifty50, opened on a subdued note on Friday
Sensex Today
Indian benchmark indices BSE Sensex and Nifty50 were trading in the red on Friday, weighed down by weak global cues.
At 12 PM, the BSE Sensex was down by 197.29 points, or 0.25%, at 79,746.42, while the Nifty50 stood at 24,135.55, lower by 53.10 points, or 0.22%.
More than half of the stocks on the BSE Sensex were in the green, with Tata Motors leading the gains, up by 4.18%, followed by IndusInd Bank, Titan, Maruti Suzuki India, and NTPC. On the downside, losses were capped by HDFC Bank, which dropped 1.75%, along with Zomato, Tech Mahindra, ICICI Bank, and TCS.
On the Nifty50, half of the stocks were higher, with ONGC leading the charge, gaining 4.26%, followed by Tata Motors, IndusInd Bank, Titan, and Maruti Suzuki India. The losses were capped by Wipro, down 2.62%, followed by Hero MotoCo, Cipla, HDFC Bank, and Tech Mahindra.
Among sectors, Pharma, IT, and Healthcare indices were the biggest laggards, falling by 1.28%, 1.27%, and 1.08%, respectively. The Nifty Financial Services, Bank Nifty, and Realty indices also showed weakness. On the other hand, the Media and Oil & Gas indices were the top gainers, rising by 1.62% and 1.29%, respectively.
Other sectors that saw gains included PSU Bank, Metal, Auto, and FMCG indices.
In the broader market, the Nifty Smallcap 100 gained 0.37%, while the Nifty Midcap 100 saw a slight decline of 0.02%.
Global Cues
Markets in the Asia-Pacific region were mixed on Friday. Hong Kong’s Hang Seng index rose 0.16%, while mainland China’s CSI 300 index fell 0.63%, and the Shanghai Composite dropped by 0.54%. The People’s Bank of China is reportedly considering cutting interest rates “at an appropriate time” this year, according to a Financial Times report. The current 7-day reverse repo rate stands at 1.5%.
In addition, China’s commerce ministry plans to impose export restrictions on certain technologies used for making battery components and processing critical minerals like lithium and gallium, as per a notice issued on Thursday.
South Korea’s Kospi index rose by 1.81%, while the small-cap Kosdaq gained 1.70%. Australia’s S&P/ASX 200 was up by 0.50%, and Japanese markets remained closed for a holiday.
Global stocks had struggled on Thursday, with early gains fading as the dollar hit a two-year high after economic data showed that the US labor market remains robust.
On Wall Street, US stocks closed lower after initial gains were lost, marking the fifth consecutive decline for both the S&P 500 and Nasdaq—the longest losing streak since April. The Dow Jones Industrial Average dropped 151.95 points, or 0.36%, to 42,392.27; the S&P 500 fell 13.08 points, or 0.22%, to 5,868.55; and the Nasdaq Composite lost 30.00 points, or 0.16%, to 19,280.79.
Meanwhile, European stocks closed higher after a slow start, with energy stocks leading the gains.
