IT drags the market in todays session
DSIJ Intelligence / 06 Jan 2017
Indian markets traded under pressure since early morning and that remained the trend throughout Friday’s trading session. The bears had a strong grip over the day, primarily led by the weakness in the IT stocks which have a substantial weightage in the benchmark indices.
Indian markets traded under pressure since early morning and that remained the trend throughout Friday’s trading session. The bears had a strong grip over the day, primarily led by the weakness in the IT stocks which have a substantial weightage in the benchmark indices.
BSE Sensex and NSE Nifty closed down 0.44 and 0.36 per cent, respectively. At the closing bell, Nifty ended 30 points lower at 8,244, while BSE Sensex lost 119 points to close at 26,759.
The advance-decline ratio stood negative in the closing session. On the NSE, 29 shares closed in the red, while 22 shares ended the day in green.
Banks and Pharma indices were up by 0.82 and 2.15 per cent, respectively, whereas, IT and Realty indices were down by about 2.80 and 0.8 per cent, respectively.
The Asian markets closed on a mixed note on Friday. Nikkei and CSI 300 closed lower, while Hang Seng and MSCI Asia Index closed with minor gains.
The European markets were trading in a negative territory.
Going ahead, markets are expected to keep a close eye on the Q3 earnings from next week onwards and lend an ear to the buzz around Union Budget 2017.
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