Kotak Bank was the biggest loser in the Sensex pack, falling 3.71 percent, follows by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
The BSE Sensex ended slightly lower Friday on losses in banking stocks as investors turned careful after the release of minutes of RBI‘s latest policy meeting tinted growth concerns. The 30-share Sensex settled 26.87 points, or 0.07 percent lower at 35,871.48. The broader NSE Nifty inched up 1.80 points, or 0.01 percent, to 10,791.65.
On the other hand, Yes Bank was the top gainer, sporting 3.23 percent.
Other winners were Vedanta, Tata Motors, NTPC, M&M, Maruti, ONGC and Hero MotorCorp, rising up to 2.86 percent.
Spectrally, the BSE SENSEX and finance index fell up to 0.43 percent. Energy and consumer durables too ended in the red.
BSE metal, auto, realty, power and oil, and gas indices gained up to 1.62 percent.
Broader indices outperformed the benchmarks, with the BSE Midcap index gaining 0.38 percent and the small-cap gauge rising 0.77 percent.
According to traders, despite constructive global cues, investor sentiment turned weak after the Reserve Bank of India (RBI) Thursday at large the minutes of its latest financial policy meet.
The central bank’s Monetary Policy Committee noted the “weakened growth momentum” amidst price rises cooling off as the reason for the surprise rate cut earlier this month.
In his debut policy review as RBI Governor, Shaktikanta Das argue that there was a need to look at growth concerns.
“Growth impulses have weakened and there is a need to spur private investments and strengthen private consumption, particularly in the wake of slowing global growth,” Das argued and voted for a rate cut.
Meanwhile, on a net basis, domestic institutional investors (DIIs) were net buyers to the tune of Rs 202.10 crore, and foreign institutional investors (FIIs) also bought shares worth a net Rs 55.48 crore on Thursday, provisional data available with BSE show.
Elsewhere in Asia, Hong Kong’s Hang Seng rose 0.65 percent, Shanghai Composite Index jump 1.91 percent and Korea’s Kospi gained 0.08 percent. Japan’s Nikkei ended 0.18 percent lower.
In the Eurozone, Frankfurt’s DAX was up 0.17 percent, Paris CAC 40 rose 0.27 percent, and London’s FTSE gained 0.17 percent in early deals.
The benchmark Brent crude futures rose 0.34 percent to USD 67.30 per barrel.
Meanwhile, the rupee valued 5 paise to 71.19 against the US dollar intra-day.