AIRLINK 142.41 Decreased By ▼ -2.09 (-1.45%)
BOP 10.13 Decreased By ▼ -0.03 (-0.3%)
CNERGY 7.11 Decreased By ▼ -0.07 (-0.97%)
CPHL 81.55 Increased By ▲ 0.15 (0.18%)
FCCL 44.71 Decreased By ▼ -0.04 (-0.09%)
FFL 15.10 No Change ▼ 0.00 (0%)
FLYNG 53.33 Increased By ▲ 0.42 (0.79%)
HUBC 136.05 Increased By ▲ 1.70 (1.27%)
HUMNL 11.12 Increased By ▲ 0.09 (0.82%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 5.54 Decreased By ▼ -0.06 (-1.07%)
MLCF 81.35 Increased By ▲ 1.85 (2.33%)
OGDC 212.25 Increased By ▲ 1.45 (0.69%)
PACE 5.53 Decreased By ▼ -0.17 (-2.98%)
PAEL 38.87 Decreased By ▼ -0.73 (-1.84%)
PIAHCLA 22.06 Increased By ▲ 0.36 (1.66%)
PIBTL 8.03 Decreased By ▼ -0.12 (-1.47%)
POWER 13.57 Increased By ▲ 0.07 (0.52%)
PPL 163.63 Increased By ▲ 1.63 (1.01%)
PRL 32.21 Increased By ▲ 0.01 (0.03%)
PTC 23.43 Decreased By ▼ -0.02 (-0.09%)
SEARL 84.58 Increased By ▲ 0.08 (0.09%)
SSGC 43.00 Decreased By ▼ -0.06 (-0.14%)
SYM 14.20 Decreased By ▼ -0.25 (-1.73%)
TELE 7.35 Decreased By ▼ -0.14 (-1.87%)
TPLP 9.27 Decreased By ▼ -0.12 (-1.28%)
TRG 56.68 Decreased By ▼ -4.92 (-7.99%)
WAVESAPP 9.06 Increased By ▲ 0.06 (0.67%)
WTL 1.45 Decreased By ▼ -0.04 (-2.68%)
YOUW 4.74 Increased By ▲ 0.29 (6.52%)
BR100 12,933 Increased By 10 (0.08%)
BR30 37,084 Increased By 110.3 (0.3%)
KSE100 120,023 Increased By 20.7 (0.02%)
KSE30 36,533 Increased By 91.5 (0.25%)

BENGALURU: Indian shares ended lower for a sixth straight session on Friday, reversing from earlier gains as poor earnings from top lender State Bank of India offset a jump in Tata Motors.

The NSE Nifty 50 index closed 0.16% lower at 15,782.15 and the S&P BSE Sensex fell 0.26% to 52,793.62, having risen more than 1% earlier in the session.

The indexes logged their fifth straight week of losses, the longest weekly losing streak since 2020.

Sentiment was also weighed down by higher oil prices, which pressure the trade and current account deficits of India – the world’s third-largest importer and consumer of oil.

“We are continuing to see foreign investors selling and the market bounce back today had given some investors an opportunity to sell at a better price and crude prices have moved up, so sentiment for India is still negative,” said Neeraj Dewan, director at Quantum Securities.

Indian shares fall over 2%, rupee hits record low ahead of inflation data

Foreign investors sold $1.81 billion worth Indian equities this week, compared with outflows of worth $635 million in the previous week.

The market is unlikely to see a sustained rebound unless there is some improvement on the macro front, such as inflation or crude prices, Dewan said.

Data on Thursday showed India’s annual retail inflation rose by a more-than-expected 7.79% in April, staying above the central bank’s tolerance band of 6% for a fourth straight month.

Conglomerate Reliance Industries - India’s most valuable company - closed 1.1% higher to snap a nine-day losing streak.

Bajaj Finance and Bajaj Finserv were among the top drags on the Nifty 50, falling 1.4% and 1.9%, respectively.

State Bank of India ended down 3.9% after touching a two-month low due to a weaker-than-expected profit for the fourth quarter.

The Nifty’s auto index advanced the most among Nifty sub-indexes, closing up 2.4%. The jump was led by an 8.6% rise in Tata Motors Ltd after it reported a smaller quarterly loss late on Thursday.

Comments

Comments are closed.