Stock market today: BSE Sensex and Nifty50 declined nearly 1 per cent on Friday as investors reduced their holdings in banking and IT sectors before the upcoming earnings season. The weakening rupee against the US dollar also affected market sentiment, according to traders.
The BSE Sensex fell 720.60 points or 0.90 per cent, ending at 79,223.11 after a positive start. During trading, it declined 833.98 points or 1.04 per cent to 79,109.73.
The NSE Nifty declined by 183.90 points or 0.76 per cent to 24,004.75.
Among Sensex constituents, Zomato, HDFC Bank, Tech Mahindra, Adani Ports, Tata Consultancy Services, ICICI Bank, Sun Pharma, Larsen & Toubro, HCL Tech and ITC were the main decliners.
Conversely, Tata Motors, Nestle, Titan, Hindustan Unilever and Reliance Industries showed gains.
In Asian markets, Seoul and Hong Kong ended positively while Shanghai declined. Japanese markets remained closed for New Year celebrations.
European markets traded lower, while US markets finished negatively on Thursday.
Foreign Institutional Investors (FIIs) became net buyers on Thursday after consecutive days of selling, purchasing equities worth Rs 1,506.75 crore, as per exchange data.
The rupee decreased by 3 paise to finish at a record low of 85.78 (provisional) against the US dollar on Friday.
The global oil benchmark Brent crude reduced by 0.43 per cent to USD 75.60 per barrel.
In the previous trading session, the BSE benchmark increased by 1,436.30 points or 1.83 per cent, marking its strongest single-day performance in over a month, closing at 79,943.71. The Nifty rose by 445.75 points or 1.88 per cent to 24,188.65.
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