Stock indices in India settled in the red on Friday, extending losses from the past session. Sensex closed at 79,486.32 points, down 55.47 points or 0.070 per cent, while Nifty closed at 24,148.20 points, down 51.15 points or 0.21 per cent.
The Sensex dropped 377.73 points to 79,164.55 at opening, while the Nifty declined by 121.30 points to 24,078.05. With only eight companies advancing and forty-two in decline within the Nifty 50, the market reflected broad-based pressure, as sectors across the board saw a pullback.
Indian indices declined by over a per cent each on Thursday, as investors await US Federal Reserve Chair Jerome Powell's remarks on the future direction of the rate trajectory.
The Indian Stock markets on Wednesday positively reacted to the presidential election outcome in which former president Donald Trump claimed victory in the United States.
As the Indian benchmarks experienced range-boud consolidation in the last trading week, markets are expected to remain sensitive to foreign fund outflows and a subdued earnings season, say the market experts.
Sensex closed 0.4 per cent higher at 79,688 points, while Nifty closed 0.4 per cent to end at 24,300 points, rebounding from two days of losses. All sectoral indices opened in green and continued upward during the Muhurat Trading hour, with only Nifty IT closing marginally lower by 0.02 p
Stock indices settled substantially lower Thursday, with foreign portfolio investors (FPIs) continuing to offload their assets in India lately, coupled with lower-than-expected July-September earnings of India Inc.
On Friday evening, on the occasion of Diwali Laxmi Puja, stock exchanges in India will be open for a special one-hour trade, in what is called Muhurat trading.
Bagga said, "Indian markets are seeing a mild bounce today. The reason could be short covering going into the monthly expiry on Thursday, 31st October. Traders normally have a propensity to carry over longs more frequently than shorts. Also, the FII selling pressure in the derivatives market
After the Indian stock markets extended their loss for the fourth consecutive week, dropping over 2.5 per cent, the two primery concerns, the foreign institutional investors (FIIs) selling and weak earnings are expected to continue influencing sentiment into the coming week, as per the marke