The Bombay Stock Exchange Sensex recovered from major losses in the morning session to close just 16.63 points down at 32,020.75 on Friday. The National Stock Exchange Nifty, after opening above 9,900 for the first time and then falling quickly, finished the day 5.35 points down at 9,886.35.
The fall in the stock market was attributed to profit-booking by investors, reported Mint. Profit-booking was most in financial institutions like ICICI Bank, whose stocks declined 1.1% after gaining for two sessions. Yes Bank slid as much as 1.4% after gaining for five consecutive sessions.
Shares of Infosys picked up in early morning trade, rising 3% after the company reported better-than-expected net profit. However, the stock shed early gains to finish 7.05 points down on the NSE at 970.
The top gainers at the Sensex on Friday were NTPC, Kotak Mahindra, State Bank of India, Cipla and Reliance Industries. The five biggest losers were TCS, Wipro, Tata Motors, BHEL and Coal India.
In the Nifty, the top five stocks were Aurobindo Pharma, GAIL, ACC, NTPC and Bharti Infratel. The five stocks that declined the most were Indian Oil Corporation, TCS, Tata Motors, Wipro and Tata Motors DVR.
Other Asian markets mostly showed a positive trend on Friday, reported CNN Money. The Shanghai SE Composite Index, the Hong Kong Hang Seng and the Tokyo’s Nikkei 225 all ended in green. However, the Taiwan TSEC 50 Index declined 16.24 points to close at 10,443.91.
The rupee, which opened two paise higher at 64.43 to the dollar, was trading at 64.56 to the dollar at 4.43 pm.