The Sensex fell 456 points and Nifty dropped 65 points Friday as financial stocks slumped and crude oil held above $80. Bajaj Finance lost 5.9%. FIIs sold ₹17.86 crore.
Alpha Score of 57 reflects moderate overall profile with weak momentum, strong value, strong quality. Based on 3 of 4 signals — score is capped at 90 until remaining data ingests.
Indian benchmark indices closed lower Friday after two days of gains, pulled down by financial stocks and crude oil prices holding above $80 a barrel.
The BSE Sensex fell 455.59 points, or 0.58%, to 78,499.17. The NSE Nifty dropped 65.35 points, or 0.27%, to 24,570.65.
Bajaj Finance led the Sensex decliners, dropping 5.90%. Bajaj Finserv fell 4.18%. ICICI Bank, Trent, Axis Bank, and Asian Paints also closed lower.
On the winners' side: Tata Consultancy Services, Mahindra & Mahindra, State Bank of India, and Tech Mahindra.
Brent crude dipped 0.35% to $82.20 a barrel.
Foreign institutional investors sold equities worth ₹17.86 crore on Thursday, exchange data showed.
"Indian equity markets ended modestly lower on Friday as renewed uncertainty surrounding the Strait of Hormuz negotiations and broad-based weakness in financial stocks overshadowed an otherwise supportive earnings backdrop," said Ponmudi R, CEO of Enrich Money.
Investor sentiment stayed cautious as markets weighed geopolitical risks alongside fresh regulatory proposals for the non-bank lending sector, he added.
For the week, both benchmarks faced divergence after stock exchanges introduced a new auction mechanism for shares with futures and options contracts. The closing auction session in the equity cash segment began Monday, August 3, introducing an auction-based mechanism for determining closing prices of eligible stocks to improve price discovery transparency.
"Market sentiment remains measured as the absence of a definitive geopolitical resolution in the Middle East continues to keep crude oil prices volatile," said Vinod Nair, head of research at Geojit Investments Ltd.
In Asia, South Korea's KOSPI and Japan's Nikkei 225 fell. Shanghai's SSE Composite and Hong Kong's Hang Seng rose.
European markets traded higher. U.S. markets ended lower Thursday.
On Thursday, the Sensex had climbed 373.76 points, or 0.48%, to 78,954.76. The Nifty edged up 11.35 points, or 0.05%, to 24,636.
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