POST MARKET
The Indian stock market ended Friday’s volatile trading session marginally in the red as investors weighed the central bank’s latest inflation and growth projections against the measures announced to spur foreign capital flows and support the Indian rupee.
The broader market also mirrored the weak trend, as both the Nifty Midcap 100 and Nifty Smallcap 100 indices ended in the red.
In the sectoral space, IT and metals were the major losers as they shed 0.99% and 1.60%, respectively. Nifty Media once again emerged as the top gainer following a 3.48% rise. Rate-sensitive sectors like auto, banks and realty gained 0.08% to 0.56% after the RBI kept its repo rate unchanged.
STOCKS IN NEWS
Wipro
Shares of Wipro Ltd. declined more than 3 percent on Friday, emerging as the top loser on the Nifty 50 index, after the IT services company’s Rs 15,000 crore share buyback entered its record date. Wipro stock fell 4.1 percent to Rs 195.9 in morning trade. The decline came after investors who purchased shares to qualify for the buyback became eligible for the corporate action, reducing the incentive for fresh buying linked to the offer.
Hindustan Zinc
Shares of Hindustan Zinc Ltd fell sharply by over 5 percent on Friday, extending their losing streak for a sixth consecutive session after a Bloomberg report said the government is considering a fresh stake sale worth up to Rs 5,000 crore in the company.
Hexagon Nutrition
Hexagon Nutrition IPO got fully subscribed on the first day of the share sale on Friday.
Source: Mint, Moneycontrol.