CLOSING MARKET UPDATE
Nifty closed lower by 38 points at 9304 levels. Sensex closed losing 111 points at 29918 level. Both the benchmark indices, Nifty and Sensex were trading in red zone throughout the day. ITC, HDFC twins and Reliance Industries Limited were the top contributor to Nifty losses.
The broader market was outperforming the major indices in the market. BSE Mid-cap index closed higher by 0.18% at 14798. BSE Small-cap index closed higher by 0.61% at 15372. India VIX closed lower by 1.51% at 10.9 levels.
Bank Nifty on Friday closed above 22300 mark at 22538 levels up by 31 points. The closing hour on Friday witnessed sharp surge in the PSU bank stocks. Syndicate Bank was the top gainer in the PSU Bank space. It closed higher by 8.8% at Rs 82.75 per share.
Among the private bank stocks players, Federal Bank was the top gainer. Federal Bank closed gaining 14.36% at Rs 107.9 per share. The other private bank stocks like Kotak Bank stock closed up by 3.1% at Rs 164.4 per share, South Indian Bank stock closed up by 4.5% at Rs 25.7 per share.