Indian Stocks End Lower After Rebounding from Three-Day Decline

22 Sep 2023 , 03:49 PM

Equity benchmark indices rebounded on Friday after a three-day decline but later gave up initial gains to quote in the negative territory.

The Sensex was down 221.09 points or 0.33% at 66,009.15, and the Nifty was down 68.00 points or 0.34% at 19,674.30. About 1747 shares advanced, 1779 shares declined, and 143 shares unchanged.

Among the Sensex firms, State Bank of India, Bajaj Finserv, IndusInd Bank, Maruti and Mahindra & Mahindra were the major gainers. Wipro, Power Grid, Titan and Tata Steel were among the laggards.

Power Grid, Asian Paints, Coal India, NTPC, HDFC Life were the top Nifty gainers whereasHDFC Bk, UltraTech, DRL, Wipro were the biggest laggards.

By the day’s end, PSU banks and automobiles managed to sustain early gains while information technology, metals and pharma remained under pressure.

For the week, the market recorded its biggest weekly loss in seven months, snapping a three-week winning streak, with the Sensex and Nifty down around 3% each. The Nifty Bank index was down more than 3% while the Nifty Midcap 100 lost around 2% this week. Except PSU Bank index, all sectoral indices posted weekly losses.