INSUBCONTINENT EXCLUSIVE:
Domestic stock markets concluded Friday's choppy trading session on a lower note, breaking their rising spree in the past four sessions
BSE benchmark index Sensex shed 84 points to close at 38,251, while the NSE Nifty settled 25 points lower at 11,557
Banking stocks dragged the markets lower while weakness in global markets affected trading sentiment
Top laggards on the 50-scrip Nifty index were Yes Bank, ICICI Bank, Hero MotoCorp, Titan Company and Adani Ports, closing with losses of
between 1.7 per cent and 3.7 per cent
However, the Sensex and Nifty registered weekly gains of 303 points and 86 points respectively
The Nifty Bank - the NSE's sectoral index comprising banking stocks - closed 0.7 per cent lower
SBI, Bank of Baroda and ICICI Bank ended around 0.6-1.9 per cent lower.2
Lacklustre trade in domestic markets was in line with global peers
World stocks came under pressure as new tariffs took effect in the US-China trade war and markets speculated about US President Donald
Trump's position following legal rulings against two former advisers.3
"The trade-talk between US and China ended without any conclusion and the US President's statement in reaction to his renewed legal issues
Besides, overbought condition on local front further induced participants to book some profit of the table," said Jayant Manglik, president,
watch on global developments for further cues, in absence of any major domestic event
in metal stocks curbed the downside
The Nifty Metal finished 1.9 per cent higher, led by JSW Steel, Vedanta, Hindustan Zinc and Welspun Corp which rose 2.4-5 per
market capitalisation (M-Cap)
ONGC and Indian Oil closed 1.6 per cent and 0.7 per cent higher respectively.8
registered their fifth weekly gain in a row.10
Meanwhile, the rupee gained as much as 5 paise against the US dollar in intraday trade to touch 70.06.(With agency inputs)
