After hitting record highs, the domestic share indices ended mixed on Friday.
The Nifty ended down, snapping four sessions of consecutive gains, as disappointing corporate earnings by YES Bank Ltd and Indian Oil Corp weighed, with investors continuing to book profits in recent outperformers.
The benchmark BSE index ended 0.03 per cent higher at 33,157.22, but still posted a record closing high. The index gained 1.8 per cent for the week.
The broader NSE Nifty index ended 0.20 per cent lower at 10,323.05, but rose 1.7 per cent for the week.
Both indexes posted their biggest weekly gain in two.
Analysts said markets may take a breather as investors digest corporate results. Indian Oil Corporation ended down 4.84 per cent or Rs. 21.05 at Rs. 414.20. ICICI Bank ended 0.57 per cent or Rs.1.70 higher at Rs. 300.95.
ITC shares gained 0.32 per cent or Rs. 0.85 to end at Rs. 269.35 on the BSE.
“Markets are looking at consolidating before moving,” said Arun Kejriwal, founder, Kejriwal Research & Investment Services, an advisory firm.
Shares of Yes Bank dropped as much as 10 per cent to their lowest since July 5 in intra-day trade and were the biggest drag on the NSE index after the lender’s bad loan ratio jumped to 1.82 per cent at end-September, while the classification of an additional Rs. 6,355 crore ($978.03 million) as bad loans also raised concerns. The stock ended down 7.39 per cent or Rs. 24.50 at Rs. 307.20.
United Spirits Ltd surged 17.64 per cent after strong performance in the second-quarter. The stock added Rs. 454.15 to end at Rs. 3,029.40. Its peers United Breweries Ltd, GM Breweries Ltd and Radico Khaitan Ltd also gained between 6-10 per cent.
Among the BSE sectoral indices, telecom (-5.06%), energy (-1.57%), oil and gas (-1.16%) and bank (-0.82%) indices were the biggest losers.
Health care (+1.61%), Industrials (+0.82%) and Auto (+0.85%) led the gainers.
On the Sensex 30, Adani Ports, Sun Pharma, ONGC, Tata Motors and Dr Reddy’s were the top gainers. Bharti Airtel, (-4.98%), SBI (-3.03%), Wipro (-1.94%), Reliance (-1.88%) and NTPC (-1.49%) were among the top losers on the index.
On the Nifty 50, Bajaj Finance (+4.39%), Adani Ports (+4.21%), Sun Pharma (+3.93%), ONGC (+3.78%) and Tata Motors (+2.49%) were the top gainers. Bharti Infratel (-7.99%), YES Bank (-7.10%), IOC (-5.38%) and HPCL (-5.29%) and Bharti Airtel (-4.66%) were the top five losers.
Firming trend at other Asian bources, tracking overnight gains at the US markets, supported the sentiment.
Asian shares gained on Friday as technology shares were boosted by upbeat earnings from US hi-tech giants while the euro hovered near three-month low against the dollar after the European Central Bank extended its stimulus. Japan’s Nikkei gained 0.6 per cent while South Korea’s Kospi rose 0.2 per cent and Australian shares rose 0.2 per cent. MSCI’s broadest index of Asia–Pacific shares outside Japan was flat in dollar terms.
The US Dow Jones Industrial Average gained 0.31 per cent in yesterday’s trade.