Nifty, Sensex close at one-month lows; Cochin Shipyard shines on debut

The market closed on a negative note on Friday for the fifth consecutive trading session. The Indian benchmark indices Nifty and Sensex closed at their one-month lows, with Nifty ending at 9,711 level, lower by 108 points and Sensex closing at 31,224, down by 307 points.
 
Nifty tanked below the 9,700 mark to its intra-day low of 9,685 level with Reliance and State Bank of India as the top losers in Nifty. Also, all the sectoral indices closed in the red, except the pharma stocks.
 
Further, BSE Mid-cap and BSE Small-cap indices also witnessed choppy trading after a gap-down opening on the exchange. Both the indices traded in the green for a while in the afternoon, but these indices retreated back to the negative territory soon thereafter. BSE Mid-cap ended at 14,726, lower by 29 points, whereas BSE Small-cap index ended at 15,064 level, down by 6 points.
 
Bank Nifty closed at 23,985 with a loss of 231 points. State Bank of India was one of the top losers in the index, post the announcement of disappointing Q1FY18 results. SBI closed at Rs 280.35, lower by 5.51 per cent. 
 
Cochin Shipyard made a fantastic debut on the first day of its listing. The stock was listed at Rs 440.15, up by 1.8% as compared to its issue price of Rs 432. However, the stock surpassed its upper circuit during the day at Rs 528.15, up by 20 per cent.