Indian Equities Close Lower on Friday, Dragged by Pharma, FMCG Stocks

MT Newswires Live

Sep 13, 2024

Indian Equities Close Lower on Friday, Dragged by Pharma, FMCG Stocks

Indian indices settled in the red zone on Friday, weighed down by pharmaceutical and fast-moving consumer goods stocks.

Both BSE Sensex and NSE Nifty hit record highs but later gave up gains despite strong buying from IT stocks.

At the close, the BSE Sensex fell 71.77 points, or, 0.1%, to 82,890.94, while the NSE Nifty 50 declined 32.40 points, or also 0.1%, to 25,356.50.

SBI Life Insurance (NSE:SBILIFE, BOM:540719) topped the gainers, with shares sliding 2%, followed by Adani Ports & Special Economic Zone (NSE:ADANIPORTS, BOM:532921) and HDFC Life Insurance (NSE:HDFCLIFE, BOM:540777).

Conversely, Wipro (NSE:WIPRO, BOM:507685), Bajaj Finance (NSE:BAJFINANCE, BOM:500034) and Bajaj Finserv (NSE:BAJAJFINSV, BOM:532978) were the top laggards.

RailTel of India (NSE:RAILTEL, BOM:543265) has received a work order worth 197 million Indian rupees from Northern Railways in India, according to a Friday filing with the stock exchanges.

Conversely, HCL Technologies (NSE:HCLTECH, BOM:532281) has completed the acquisition of a 100% stake in French software company Zeenea at an adjusted enterprise valuation of 23.9 million euros, according to a Thursday filing with the stock exchanges.

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