Post Session: Market ends marginally lower; M

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The Indian equities ended marginally lower on Friday as weak corporate results prompted funds and retail investors to partially booked profit ahead of US jobs data due later in the day. Further, losses in index heavyweights such as State Bank of India, BHEL, HDFC and TCS also weighed on market sentiments.

The BSE SENSEX closed at 28236.39, down by 61.74 points or by 0.22 per cent, while the NSE Nifty ended 24.05 points lower at 8564.6.

On the corporate front, auto major Mahindra and Mahindra fell 0.47 per cent after reporting better-than-expected first quarter earnings, despite slump in tractor sales. The Mumbai-headquartered company posted a decline of 3.4 per cent in its standalone net profit at Rs 852 crore for the quarter ended June 30, 2015, while net sales dipped 3 per cent to Rs 9,708 crore during Q1 FY16.

Meanwhile, on the sectoral front, banking, power, capital goods, FMCG, metal and pharma indices settled in the red, while oil & gas stocks notched gain over 2 per cent in otherwise weak market trade.

In the choppy trade, the BSE Sensex touched intraday high of 28335.67 and intraday low of 28193.93, while the NSE Nifty touched intraday high and intraday low of 8595.95 and 8552.7, respectively.

In line with the benchmark indices, the broader market also ended lower, with the BSE MIDCAP settling 28.06 points lower at 11557.52, while the BSE SMLCAP closed at 12104.47, down by 17.21 points or by 0.14 per cent.

Leading the decline on BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 265.80,-5.81%), Coal India Ltd. (Rs. 415.55,-3.61%), State Bank of India (Rs. 281.40,-2.38%), Bajaj Auto Ltd. (Rs. 2537.85,-1.46%), NTPC Ltd. (Rs. 133.85,-1.33%), among others.

However, some buying were witnessed across stocks, such as Oil And Natural Gas Corporation Ltd. (Rs. 282.30,+4.42%), Tata Motors Ltd. (Rs. 392.55,+2.52%), Vedanta Ltd. (Rs. 129.45,+2.01%), Hindalco Industries Ltd. (Rs. 109.60,+0.92%), Sun Pharmaceutical Industries Ltd. (Rs. 851.50,+0.59%).

On the sectoral front, power and metal indices emerged as top losers, losing 1.47 and 0.92 per cent, respectively, on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2956, shares advanced were 1350 while 1489 shares declined and 117 were unchanged.

On the global front, the Asian equities ended mostly higher, with China"s Shanghai Composite and Nikkei 225 extended gain for second day, while Hang Seng settled in negative terrain. China"s Shanghai Composite extended two-day gain after the Services PMI rose to the highest level in 11 months at 53.8 in July from 51.8 in June. Japan"s Nikkei 225 posted handsome gains as a weaker yen boosted the lure for exporter stocks.

Story first published: Friday, August 7, 2015, 16:48 [IST]
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