Sensex and Nifty end flat on the last day of financial year 2016-17
Banking, technology, FMCG, IT, auto, healthcare, power and auto sectors had a rough time during the trade session.
Indian bourses ended on a slight decline on Friday, the last trading session of the 2016-17 financial year. The Bombay Stock Exchange Sensex concluded 27 points lower at 29,621, while the Nifty 50 dropped 9,173.75. Banking, technology, FMCG, IT, auto, healthcare, power and auto sectors endured a rough day during the trade session.
Tata Steel, Reliance Industries, Gail, Power Grid and ONGC were among the major gainers on Friday, while HDFC Bank, Wipro, HDFC, Hero MotoCorp and Tata Consultancy Services took a hit.
Reliance Industry Limted had a good trading day as its shares rose by 1.2% to Rs 1,283.90. Its Jio Prime offer secured almost 50 million subscribers by Friday, which was the last day to sign up for its free data and voice call deal.
“There could be some more profit-booking happening in the market. Next week could see some breather in terms of FII (foreign institutional investor) inflows as well as caution ahead of earnings season and monsoon data,” said Siddhartha Khemka, head of research at Centrum Wealth, Mint reported.
The rupee closed at 64.93 compared with its Thursday close of 64.91 against the dollar. Asian currencies traded weakly. The South Korean won dropped by 0.23%, Taiwan dollar 0.2%, Japanese yen 0.15%, and China renminbi 0.13%.