Business News

Stock Market Ends Flat: Sensex Slips 48 Points; Nifty Around 19,800 Amid Volatility. IT Drops

November 24, 2023
Bharat Times

The two key equity benchmarks, Sensex and Nifty, on Friday ended flat after a lacklustre session amid volatility. The S&P BSE Sensx closed at 65,970, down 48 points. On the other hand, the NSE Nifty50 settled at 19,795, down 7 points. On the 30-share Sensex platform, HCLTech, Wipro, TCS, TechM, Nestle, Tata Motors emerged prime losers. On the flip side, Axis Bank, JSW Steel, HDFC Bank, ICICI Bank, NTPC, M&M were among the gainers.

A total of 1,721 shares gained, 1,849 shares declined, while 114 shares remain unchanged.

In the broader markets, the BSE Midcap and Smallcap indices adding 0.13 per cent and 0.14 per cent, respectively.

Sectorally, the Nifty IT index dropped 1 per cent, followed by the Nifty FMCG (down 0.45 per cent), and the Nifty PSU Bank index (down 0.37 per cent). Nifty Pharma was the top gainer, rising 0.87 percent, followed by Nifty Metal and Nifty Healthcare.

In the previous session on Thursday, the Sensex closed marginally down by 6 points to 66,018. The NSE Nifty50 settled at 19,802, down 10 points.

In Asian markets, Tokyo settled in the green while Seoul, Shanghai, and Hong Kong ended lower.

European markets were trading mostly in the positive territory. The US markets were closed for Thanksgiving holiday on Thursday.

Global oil benchmark Brent crude climbed 0.18 per cent to $81.57 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 255.53 crore on Thursday, according to exchange data.

Meanwhile, the Indian rupee edged 3 paise lower to close at 83.37 (provisional) against the US dollar on Friday, tracking higher demand for US dollars from importers and a weak tone among Asian currencies. Forex traders said a muted trend in domestic equities also weighed on the local unit.

At the interbank foreign exchange market, the local unit opened at 83.33 and touched an all-time low of 83.38 against the greenback. It finally settled at 83.37 (provisional) against the dollar, registering a fall of 3 paise from its previous close. On Thursday, the rupee settled at 83.34 against the American currency.