Sensex, Nifty End Lower On Profit Taking
(RTTNews) - Indian shares ended lower on Friday, with key benchmark indexes Sensex and Nifty snapping a three-day winning streak that was supported by GST reforms, encouraging progress in India-U.S. trade discussions and the Federal Reserve's first rate cut of the year.
The benchmark BSE Sensex dropped 387.73 points, or 0.47 percent, to 82,626.23, while the broader NSE Nifty index ended down 96.55 points, or 0.38 percent, at 25,327.05.
The BSE mid-cap index slid 0.1 percent but the small-cap index bucked the weak trend to close 0.2 percent higher.
The market breadth was slightly positive on the BSE, with 2,134 shares rising while 2,000 shares declined and 182 shares closed unchanged.
Among the prominent decliners, Power Grid Corp, HDFC Bank, Mahindra & Mahindra, Hindustan Unilever, Kotak Mahindra Bank, Trent, Titan Company, ICICI Bank and HCL Technologies fell 1-2 percent.
Adani Enterprises surged 5 percent, Adani Ports climbed 1.1 percent and Adani Power jumped 12.4 percent after SEBI's investigation found no evidence that the diversified group used related parties to channel funds into its listed companies.
Vodafone Idea shares jumped more than 7 percent after the central government informed the Supreme Court that it does not oppose telecom operator's plea challenging a fresh Rs. 9,450 crore AGR demand.
The government, which owns 48.99 percent of Vodafone Idea, has indicated that a resolution is required.
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