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Indices End Lower; Pharma, Broader Markets Outperform
Markets on the last trading day of the week after starting on a somber note recouped losses but again towards the close traded weak. At the end Sensex end lower by 155 points, and Nifty ended at 14834, down 39 points. Nonetheless, broader markets traded higher with gains of over 0.17%.
Among Nifty sectoral indices, PSU Bank and pharma packs showed the maximum strength while banks and financials continued to lag. Infact pharma was gaining over 3 percent, led by Cadila shares which gained up to 6 percent.
IT index also traded higher by over 1 percent ahead of the earning season which shall be kick-started by IT major TCS.
Indian banks have largely been hit by the expected threat due to the second pandemic wave engulfing the country in a big way.
Meanwhile, at the time of writing this copy, European indices in line with their Asian peers traded mixed with CAC up, while DAX and FTSE traded in the negative.
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