Mumbai, Jan 10 (NationPress) The domestic benchmark indices in India closed lower on Friday, despite the IT sector finishing in the green with a remarkable gain of 3.44 percent.
The Sensex concluded at 77,378.91, marking a drop of 241.30 points, or 0.31 percent, while the Nifty settled at 23,431.50, down by 95 points or 0.40 percent.
The Nifty Bank index closed at 48,734.15, decreasing by 769.35 points, or 1.55 percent. The Nifty Midcap 100 index ended at 54,585.75, down by 1,160.15 points, or 2.08 percent, and the Nifty Smallcap 100 index fell to 17,645.55, down by 472.80 points, or 2.61 percent.
Market analysts indicated that the subdued domestic market sentiment was influenced by rising crude oil prices, driven by supply concerns and a strengthening dollar index.
Despite the resilience of the IT sector following positive early Q3 results, broader indices faced declines due to uncertainties surrounding US President-elect Donald Trump’s policies and elevated valuations. Consolidation is expected to continue in the near term, with investors eyeing the US non-farm payroll data today for further insights.
There was strong buying activity in the IT sector after robust Q3 results from Tata Consultancy Services (TCS), which saw its stock surge by 5.60 percent to Rs 4,265 per share.
On the Bombay Stock Exchange (BSE), 829 shares finished in the green while 3,162 shares ended in the red, with 87 shares remaining unchanged.
Within the Sensex pack, the top losers included IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, SBI, PowerGrid, Tata Steel, Kotak Mahindra Bank, and Titan. Top gainers were TCS, Tech Mahindra, HCL Tech, Infosys, Bajaj Finserv, Bharti Airtel, Hindustan Unilever, L&T, and Bajaj Finance.
Foreign institutional investors sold equities worth Rs 7,170.87 crore on January 9, while domestic institutional investors purchased equities valued at Rs 7,639.63 crore on the same day.
