AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

BENGALURU: Indian shares snapped an eight-session winning streak on Friday, but held on to weekly gains, as investors took profits ahead of US payrolls data that could provide more cues on a shift in the Federal Reserve’s rate-hike plans.

The S&P BSE Sensex closed 0.66% down at 62,868.50, while the Nifty 50 index settled 0.62% lower at 18,696.10. The Nifty 50 rose 3.6% over the last eight sessions.

Investors were booking some profits after the recent run-up, said Anita Gandhi, director at Arihant Capital Markets, adding at higher valuations there is a shift happening from expensive stocks to value stocks.

The Nifty Midcap 100 outperformed its larger peers, climbing 4.5% in the last eight days.

For the week, the Sensex and Nifty rose 0.92% and 0.99%, respectively, boosted by expectations of smaller rate hikes by the Fed from its December policy meeting.

Investors will be watching the US non-farm payrolls data, due at 7:00 pm IST (1330 GMT) and is likely to show job growth was the smallest in nearly two years in November.

The report comes on the heels of data signalling the Fed’s rate hikes have cooled the economy.

Market participants now expect the Reserve Bank of India to raise interest rates by a smaller 35 basis points next week, according to economists polled by Reuters.

Among the top sectoral losers was the Nifty Auto index , shedding 1.10%, led by losses in Bajaj Auto, Mahindra and Eicher Motors, as analysts flagged tepidness in rural demand.

“Auto stocks will be under pressure for some time,” said Rahul Sharma, market strategist and head of research at Equity99.

“But soon there will be momentum due to ongoing infra-activities by the government as well as the overall pick up in demand post festive season.” Nifty Realty rose 0.94%, aided by gains in Macrotech Developers, after Jefferies tweaked its India long-only portfolio and increased weightage on the stock.

Comments

Comments are closed.