However, the indices erased the losses later on. Sensex closed 72 pts higher today and closed above the 64,900 mark while Nifty closed at 19,425.
-Banking, financial and energy stocks led the gains.
Gainers and losers
Among the Sensex pack – NTPC, Tech Mahindra, and Ultratech cement, were top gainers whereas M&M, HCL Tech and Titan were the top losers
Stocks in news
Honasa shares were down 21% from the IPO price during today’s trade but jumped back up after Jefferies gave a buy rating to the stock. The share closed over 7% higher.
RVNL closed nearly 3% lower after the firm reported muted Q2 results. It posted a 3.4% YoY rise in profit at Rs 394.3 crore in Q2 FY24.
CarTrade Tech closed with a 20% upper circuit after the company reported a 44% jump in its revenue growth and a 132% growth in profit after tax.
Nifty Metal, Nifty Oil & Gas, Nifty Bank, Financial Services, FMCG, Pharma, and Realty sectors closed with gains. In the broader market, Nifty Midcap100 rose 0.48%, while Smallcap100 gained 0.47%.\
Oil Prices and Rupee
Oil prices were up on Friday. Brent crude futures for January were up 1.07%, at $80.81 a barrel during Asian hours, while the US WTI crude futures for December were at $76.5, up 1.02%.
The Indian rupee fell to a record low as a rebound in US Treasury yields pressured Asian currencies. The rupee closed at 83.34 against the US dollar.