Indices retreat after three days of continuous improvement in the stock market

(By commerce representative) MUMBAI: The benchmark indices of Indian stock markets closed with modest declines after being extremely volatile on the last day of the week. The three-day correction took a break behind the world market today. However, mid-cap stocks continued to attract investors. Globally, Asian markets also closed lower and European markets opened lower. Investors are cautious amid reports of deteriorating conditions in some countries over Omicron. Financial and IT stocks were under pressure while realty, auto and metals were the main attractions. The BSE Sensex was down 20.5 per cent at 3.7 per cent while the Nifty 30 index was down 3.3 per cent at 1211.30. The Sensex was hovering between a low of 314.5 and a high of 7.31. The Nifty was also seen at a low of 1908.8 while at the top it was seen at 12.5. The Nifty Midcap 100 Index rose 4.5 points to close at 31,606.05. Nomura maintains a neutral outlook for Indian equities for 207.

Auto stocks rise on lower buying: Mahindra, Amar Raja Batteries, Bharat Forge, Ashok Leyland attractions

The rise in the number of electric vehicles and the expectation of higher vehicle sales in the coming days have attracted auto stocks. Mahindra & Mahindra rose by Rs 2.50 to close at Rs 4.50. Amar Raja Batteries rose by Rs 2.50 to close at Rs 2.50 and Bharat Forge by Rs 2.10 to close at Rs 4.5. TVS Motor fell by Rs 2.50 to close at Rs 4.5 amid higher profit margins. Eicher Motors fell by Rs 19.50 to close at Rs 4.5.

Mixed inflows in bank stocks: PNB, Federal Bank, SBI rise while Axis Bank, Bandhan Bank fall

IDFC First rose by Rs 2.50 to Rs 3.10 amid huge volume on expectations of lower interest rates from the infrastructure sector. PNB was up Rs 1.2 at Rs 20.8. Federal Bank rose by Rs 1.50 to Rs 2.50. Axis Bank's share price fell by Rs 2.50 to close at Rs 2.09. Bandhan Bank lost Rs 1.5 to close at Rs 20.05. HDFC Bank fell by Rs 2.50 to close at Rs 17.5.

Realty stocks continue to take off: IT demand from IT sector attracts investors

Realty stocks rallied on reports of rising demand for office space from information technology companies. Foreign investors were reporting buyer market circles. Indiabulls rose by Rs 2.50 to Rs 12.10. DLF's share price rose by Rs 20.50 to Rs 318.10, Oberoi Realty by Rs 3.50 to Rs 305 and Phoenix Mills by Rs 10.8 to close at Rs 105.50. Suntech Realty fell by Rs 2.50 to close at Rs 4.5.

Exit market breadth strengthened in the last part of the session

Market breadth remained strong on the back of lower prices in the last part of Friday's session. At the BSE, 2,108 stocks rose and closed at 114. There was no change in the share price. As many as 40 stocks were seen at 52-week highs, most of them in the smallcap sector. Against this, 14 stocks were at a 52-week low, according to preliminary data. 7 stocks had upper while 110 had lower circuit. Foreign institutional investors made a net sale of Rs 104.50 crore in cash while domestic institutional investors made a net purchase of Rs 4.5 crore.