The Indian markets ended this trading week on a muted note. The BSE Sensex rang the closing bell near 85k, crashing more than 350 points, while the NSE Nifty50 settled for the day at at 26,047, declining close to 100 points.
On the 30-share Sensex, Titan, NTPC, HUL, TMPV, and Axis Bank stood among the early gainers. Meanwhile, Bajaj Finance, Asian Paints, HCL Tech, TCS, and Eternal dominated the laggards.
In the broader markets, the Nifty Midcap Select index bled 0.65 per cent. Sectorally, the Midsmall IT & Telecom index led across the board after it tanked 1.12 per cent. On the other hand, the Metal index rose 0.59 per cent.
Notably, both benchmarks opened lower today morning, weighed down by continued foreign fund outflows and thin holiday-season volumes, as investors stayed cautious in the absence of strong domestic triggers. The Sensex slipped 183.42 points to 85,225.28, while the Nifty declined 46.45 points to trade at 26,095.65.
“With no fresh triggers such as progress on a US-India trade deal, markets are likely to consolidate around current levels,” said V K Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd. Analysts said subdued holiday volumes, continued FII selling and weak cues were keeping sentiment fragile and markets range-bound.
