Markets settle flat amid muted trade, auto & metal shares drop

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Mumbai: Benchmark indices Sensex and Nifty ended almost flat on Friday in a muted trade as investors awaited financial results by leading corporates for further cues amid largely weak global markets.

In a volatile trade, the 30-share BSE Sensex edged up 22.71 points or 0.04 per cent to settle at 59,655.06 as 15 of its shares advanced and the rest declined. During the day, it hit a high of 59,781.36 and a low of 59,412.81.

The broader NSE Nifty ended at 17,624.05, showing a marginal dip of 0.40 points.

Among Sensex firms, ITC rose the most by 1.99 per cent, edging past HDFC to become the seventh largest valuable company on BSE with a market capitalisation of Rs 5,07,373.82 crore at the close.

HDFC slipped to eighth rank with a market cap of Rs 5,06,264.24 crore as its shares advanced 0.64 per cent.

Among others, Tata Consultancy Services, Wipro, Asian Paints, HCL Technologies, Kotak Mahindra Bank, Bajaj Finance, Infosys, Sun Pharma, Hindustan Unilever, Power Grid and HDFC Bank also posted gains.

Reliance Industries closed higher by 0.14 per cent ahead of the release of its financial results for the quarter and fiscal ending March 2023 post-market hours.

HCL Technologies climbed 1 per cent after the company on Thursday posted a 10.85 per cent increase in consolidated net profit to Rs 3,983 crore for the fourth quarter of 2022-23.

Tech Mahindra, Maruti, Tata Steel, UltraTech Cement, Tata Motors and ICICI Bank were among the laggards.

In the broader market, the BSE midcap gauge dipped 0.36 per cent and smallcap index declined 0.27 per cent.

Among indices, realty fell by 2.07 per cent, metal went lower by 1.03 per cent, auto declined 0.94 per cent, commodities went lower by 0.91 per cent, capital goods (0.61 per cent).

Energy, FMCG, healthcare, IT, telecommunication and teck were the gainers.

Rising for the second straight session, the rupee appreciated 11 paise to close at 82.06 against the US dollar on Friday, supported by softening crude oil prices in the international markets.

Meanwhile, global oil benchmark Brent crude dipped 0.04 per cent to $81.07 per barrel. Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 2,116.76 crore on Friday, according to exchange data.

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