Although the market had opened on a positive note in continuation with Thursday’s bull run helping the Sensex touch a fresh all-time high of 36,740 points in the morning session, still the indices could not hold on to the earlier gains.
Analysts attribute the shedding of gains on the indices to the weak macro-economic data released on Thursday — higher retail inflation in June and fall in industrial output in May.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 11,018.90 points — lower by 4.30 points or 0.04 per cent — from its previous close of 11,023.20 points.
The barometer 30-scrip Sensex on the BSE, which had opened at 36,635.14 points, closed at 36,541.63 points — down 6.78 points or 0.02 per cent — from its previous close of 36,548.41 points.
As mentioned, it touched a record intra-day high of 36,740.07 points and a low of 36,501.61 points.
In the broader markets, the S&P BSE mid-cap fell by 0.77 per cent and the S&P BSE small-cap ended 1.36 per cent lower from its previous close. The BSE market breadth was bearish with 1,824 declines and 813 advances.
“It was a volatile day on the bourses as stocks oscillated between the positive and negative zones through the day, reacting to conflicting cues in terms of positive global stocks and lacklustre macro-economic data,” said Abhijeet Dey, Senior Fund Manager for Equities at BNP Paribas Mutual Fund.
He added: “On the macro front, data revealed that India’s factory output growth slowed to a seven-month low in May while retail inflation quickened to a five-month high in June.
On the currency front, the rupee appreciated by five paise to end at 68.53 per dollar, against the previous close of 68.58 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,104.65 crore while the domestic institutional investors bought stocks worth Rs 872 crore.
Sector-wise, the S&P BSE consumer durables index gained the most, by 178.22 points, followed by the IT index, which was up 49.21 points and the energy index rose by 32.90 points.
On the contrary, the S&P BSE banking index fell by 170.58 points, the capital goods index was down 157.32 points and the FMCG index ended 101.60 points lower from its previous close.
The major gainers on the Sensex were Reliance Industries, up 1.34 per cent at Rs 1,096.75; Infosys, up 1.12 per cent at Rs 1,309.10; Bajaj Auto, up 1.03 per cent at Rs 3,134; Coal India, up 0.96 per cent at Rs 267.75; and Maruti Suzuki, up 0.93 per cent at Rs 9,434.30 per share.
The top losers were ONGC, down 2.80 per cent at Rs 154.60; Axis Bank, down 2.48 per cent at Rs 523.90; ITC, down 2.29 per cent at Rs 270.40; State Bank of India, down 1.96 per cent at Rs 257.60; and ICICI Bank, down 1.60 per cent at Rs 268.05 per share.