Sensex, Nifty close flat after touching all-time high
Midcap, and smallcap stocks also traded in a sideways range on Friday. The Nifty midcap index closed at 52,424 points with a gain of 5.90 points and the Nifty smallcap closed at 16,883 points with a decline of 28 points.
Among the sector indices PSE, Energy, Auto, Media, Banking and Fin Service were major gainers. Metal, IT, Pharma and FMCG were major laggards.
A total of 21 out of 30 Sensex stocks closed in red.
HDFC Bank, Bharti Airtel, L&T, NTPC, and UltraTech were the top gainers, whereas, Asian Paints, Tech Mahindra, ITC, M&M, TCS, and Titan Company were the top losers.
Vaibhav Vidwani, Research Analyst, Bonanza Portfolio Ltd said: "Domestic market indices Sensex and Nifty stepped back after hitting all-time high levels, as the global market cues remained weak. Nifty topped the 23,000 mark while Sensex also made a new high today."
According to other market experts, "Global market sentiments remained subdued as the recent US Federal Open Market Committee (FOMC) minutes suggest a continued hawkish stance on policy rates. US jobless claims fell more than expected, corporate profits remained healthy, and stubborn inflation persists, giving the Fed no reason to cut rates."
