Equity indices dip on profit booking, Tata Steel down 3.7 pc

Mumbai (Maharashtra) [India]: Traders booked profit in metal and PSU bank stocks in the last hour of trading on Friday, leaving key benchmark indices in the red zone.
At the closing bell, the BSE S&P Sensex was down by 125 points or 0.21 per cent at 59,016 while the Nifty 50 lost by 44 points or 0.25 per cent to 17,585. Except for Nifty financial service, which rose by 0.6 per cent and private bank, which moved up by 0.2 per cent, all sectoral indices were in the negative zone with Nifty PSU bank cracking by 2.9 per cent, metal and realty by 2.3 per cent each, and IT by 0.6 per cent.
Among stocks, Tata Steel fell by 3.7 per cent to Rs 1,382.80 per share while Hindalco slipped by 1.9 per cent and JSW Steel by 0.5 per cent.
State Bank of India retreated by 2.2 per cent, Reliance Industries by 1.7 per cent, Tata Motors by 1.1 per cent and Dr Reddy’s by 1 per cent.
However, Kotak Mahindra Bank gained by 5.6 per cent to closed the week at Rs 2,014.10 per share.
HDFC Bank was up by 1.6 per cent, Axis Bank by 1.1 per cent, Bajaj Finserv by 0.8 per cent, Bajaj Finance by 0.4 per cent and ITC by 0.3 per cent.
Meanwhile, Asian shares steadied after losses earlier in the week but China jitters and global growth concerns weighed on investors’ minds.
Hong Kong’s Hang Seng Index rose 1.03 per cent after posting its lowest close in 10 months the day before.
Japan’s Nikkei edged up 0.58 per cent to post fourth weekly gain while South Korea’s Kospi closed 0.33 per cent higher.

Leave a Comment