Business Economy


Stock markets snap three-session winning streak, Nifty below 25,200 mark

New Delhi, Nov 13 (UNI) The Indian stock markets on Friday snapped their three-session winning streak. Markets ended lower with the Nifty slipping below the 25,200 mark amid broad-based selling across sectors.
Domestic markets opened lower and remained in negative territory for most of the session.
At close, the Sensex was down 318.56 points or 0.39 percent at 81,592.45, and the Nifty was down 155.05 points or 0.61 percent at 25,144.30.
Among the sectors, barring FMCG, all other sectoral indices ended in the red.
Auto, realty and metal indices declining around 1 percent each.
On Nifty, the biggest losers were Shriram Finance, Grasim Industries, Tata Motors Passenger Vehicles, Hindalco Industries and Adani Enterprises while on the other hand, Bharti Airtel, Eicher Motors, ONGC, Nestle India and Asian Paints were among the top gainers.
In terms of individual stock performances, Automotive Axles share price jumped 10 percent, TD Power Systems gained 2 percent. On the other hand, Ola Electric Mobility fell 3 percent while Vodafone Idea declined 3 percent, and Hitachi Energy India surged 11 percent.
The Indian rupee weakened for the second consecutive session, falling 21 paise to close at 94.24 per US dollar on Friday, compared with the previous close of 94.03.
More than 140 stocks touched 52-week high, including stocks of Acutaas Chemicals, Honasa Consumer, MCX India, Billionbrains Garage Ventures, Sai Life Sciences, Ather Energy, Punjab National Bank, PVR INOX, Asahi India Glass, Allied Blenders and Distillers, Sona BLW Precision Forgings, Motilal Oswal Financial Services, One 97 Communications (Paytm), Navin Fluorine International, Indegene and Kalyan Jewellers, among others.
Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd said, "Indian equities are likely to witness marginal consolidation in the near term, while maintaining a positive bias and a gradual upward trajectory.
"The Q2FY27 earnings season has ended on a strong note, with corporate performance largely exceeding expectations and improving earnings visibility. record FII inflows have provided support, while the recent correction in global AI stocks had also redirected investor interest towards Indian equities."
"However, the rise in domestic retail inflation above the RBI's upper tolerance limit and crude prices moving back above US$95.4/bbl could weigh on sentiment in the near term. While these factors may temper the pace of gains, strong earnings delivery and continued FIIs participation remain supportive of the broader market outlook."
UNI VK RN
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