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Sensex, Nifty close marginally down on profit booking in IT, financials
Benchmark indices Sensex and Nifty closed marginally down in volatile trade on Friday following profit booking in financials and IT shares amid a weak trend in global equity markets.
Snapping its two-day gaining streak, the 30-share BSE Sensex declined 30.81 points or 0.05 per cent to settle at 58,191.29. During the day, it fell 370.95 points or 0.63 per cent to 57,851.15 but later pared most of the losses.
The broader NSE Nifty dipped 17.15 points or 0.10 per cent to end at 17,314.65 as 32 of its stocks declined.
"Prior to the release of the US jobs data, the domestic market traded with cuts in line with its global counterparts. Stronger-than-anticipated job data may lead to a market decline as it could give the Fed more reasons to focus on inflation," Vinod Nair, Head of Research at Geojit Financial Services said.
Following OPEC+'s announcement of supply reductions, crude prices have continued to rise, while the rupee has dropped to a fresh low as a result of hawkish remarks from
