Sensex, Nifty End Lower Dragged By FMCG Stocks: Market Wrap
Sensex closed 237 points, or 0.39%, lower at 60,621.77 while the NSE Nifty 50 eased 80 points, or 0.44%, to end at 18,025.65.
India's benchmark indices ended lower during the final minutes of trade after largely remaining rangebound through the day on Friday.
However, the indices continued their weekly winning streak for the second consecutive week.
The S&P BSE Sensex closed 237 points, or 0.39%, lower at 60,621.77 while the NSE Nifty 50 eased 80 points, or 0.44%, to end at 18,025.65.
Hindustan Unilever Ltd., Asian Paints Ltd., Bajaj Finance Ltd., Nestle India Ltd. and JSW Steel Ltd. were the top losers in the gauge.
Whereas, Coal India Ltd., Power Grid Corporation of India Ltd., HDFC Bank Ltd., HDFC Ltd., and ITC Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
The broader market indices were trading lower, with the S&P BSE MidCap easing 0.66% and the S&P BSE SmallCap falling 50%.
Fourteen out of the 19 sectors compiled by BSE Ltd. declined, while five advanced in trade.
The market breadth was skewed in favour of the bears. About 1,570 stocks rose, 1,916 declined, and 153 remained unchanged on the BSE.
After falling for the first week of the new year, the headline indices rose for the second consecutive week in the third week of 2023.
Sensex ended 0.60% higher, and Nifty closed with a 0.40% gain this week. The indices had risen 0.60% and 0.54%, respectively, last week.
Sectorally, Nifty I.T., Bank, and Realty indices gained this week.
On the other hand, Nifty Media, PSU Bank, Auto, and Smallcap 100 declined more than 1%.