Closing Bell: Sensex falls 111 points, Nifty closes at 15,752
- Sensex slipped 111.01 points or 0.21% to settle at 52,907.93
- Nifty fell 28.20 points or 0.18% to close at 15,752.05
- The rupee closed 12 paise higher at 78.94 against the US dollar
The Sensex slipped 111.01 points or 0.21% to settle at 52,907.93. During the day, it plunged 924.69 points or 1.74% to 52,094.25. The NSE Nifty fell 28.20 points or 0.18% to close at 15,752.05.
The government of Friday imposed an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally.
The broader indices ended in green as the BSE Mid cap index was up by 0.67% and Small cap index up by 0.09%. On the sectoral front, FMCG was up by 2.47%, Realty was up by 1.65%, Basic Materials was up by 0.96%, Consumer Disc was up by 0.80% and IT was up by 0.72%, while Energy down by 3.99%, Oil & Gas down by 3.21%, PSU down by 1.32%, Utilities down by 0.86% and Power down by 0.77% were the top losing indices on BSE.
Major laggards from the Sensex pack were Reliance down by 7.14%, Power grid down by 2.52%, NTPC down by 1.82%, Bharti Airtel down by 1.54%, Maruti Suzuki down by 0.87%, Sun Pharma down by 0.49%, ICICI Bank down by 0.40% and Dr Reddy’s Labs down by 0.38%.
Among the gainers were ITC up by 3.99%, Bajaj Finance up by 3.97%, Bajaj Finserv up by 3.63%, Asian Paints up by 2.80%, HUL up by 2.34%, HDFC up by 1.95%, Nestle up by 1.67%, IndusInd Bank up by 1.63%, TCS up by 1.56% and UltraTech Cement up by 1.47%.
The rupee rebounded from its all-time low to close 12 paise higher at 78.94 against the US dollar.
"Unfavourable cues from the domestic market led to a weak start due to weakness in the rupee and selling in oil refineries as the government imposed an additional export duty on petrol and diesel.
"Adding to the weakness, India's factory output growth slowed down during June, as high inflation continued to dampen demand," said Vinod Nair, Head of Research at Geojit Financial Services.
European markets were trading in the green in mid-session deals. The US markets settled lower on Thursday.
India’s manufacturing sector activity declined to a nine-month low in June as growth of total sales and production moderated amid intense price pressures, according to a monthly survey on Friday.
Brent crude, the international oil benchmark jumped 1.90% to US $111.1 per barrel.
According to stock exchange data, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,138.05 crore on Thursday.