Mumbai : The 30-share pack Sensex slipped 110.02 points or 0.25 per cent to 44,129.72 while Nifty dipped 18.05 points or 0.14 per cent to 12,968.95.
Despite a positive trend in global markets and ahead of Q2 GDP announcement, RIL, Infosys and TCS made losses as benchmark indices closed the day with cuts amidst high volatile market on Friday.
There was massive buying in broader markets suggesting a shift of funds towards smaller companies though experts had expected consolidation after a massive rally in the past few days pushing the indices to a record high levels.
The Markets on Friday were driven by uncertainty relating to effective Covid-19 vaccine and expectation of Q2 GDP information. Although GDP is expected to be higher as compared to the previous quarter, the recovery in Indian economy is likely to be lower compared to its global peers. The broader markets outperformed the main benchmark indices showing a shift in demand to mid and small caps.
Cadila Healthcare gained as much as 7 per cent as the drugmaker is expected to launch vaccine by March 2021.
CG Power went up 5 per cent after Tube Investments takes over a majority stake. RIL and Infosys made losses. HDFC twins were the top positive contributors. Broader Markets outperformed as Smallcap and Midcap rose 3 per cent.
A total of 155 stocks hit a 52-week high, among them were Dixon, EID Perry, Firstsource, Divi’s Labs, Cadila and Bajaj Finance.
Among the blue chip companies, Tata Motors was the biggest gainer up 2.82 per cent at Rs 178.65 followed by Asian Paints, Hero MotorCorp, Divi’s Labs, Bajaj Finance, Tech Mahindra and Tata Steel.
At NSE, Nestle India was the biggest loser in Nifty constituents down 4.34 per cent to Rs 16,971.20, Power Grid, JSW Steel, Shree Cements, HCL Tech, ONGC and HDFC and HDFC Life Insurance also made losses.
Nifty Smallcap gained 3.07 per cent while Nifty Midcap rose 2.70 per cent. Nifty 500, the broadest Index in NSE gained 0.42 per cent.
Except Nifty IT which fell 0.43 per cent, all the sectoral indices on NSE were the gainers, up 2.65 per cent while Nifty PSU Bank, Nifty Media and Nifty Auto rose over a per cent each.
Market sentiments were in favor of the gainers as 1768 stocks ended in the green while 1031 companies settled the day with cuts.
The Q2 GDP data which is expected later today is likely to influence the markets on Tuesday as Saturday, Sunday and Monday are holidays.
