New Delhi, 13 November (H.S.): The domestic equity market witnessed a sharp decline on Friday, the final trading session of the week, bringing its recent winning streak to an end. Weak cues from global markets, rising crude oil prices and elevated retail inflation weighed on investor sentiment throughout the session. At the close of trading, the BSE Sensex was down 0.39 per cent, while the NSE Nifty 50 ended 0.61 per cent lower.

The BSE Sensex opened at 81,833.78, declining 77.23 points, or 0.09 per cent, amid weak market signals. Soon after the opening, buying activity gathered momentum, helping the index recover. Supported by sustained buying, the Sensex rose to 81,879.51 during the first hour and a half of trade. However, selling pressure subsequently returned, pulling the index lower once again.

As selling continued, the index plunged 622.26 points, or 0.76 per cent, to touch an intraday low of 81,288.75. During the final hour of trading, buyers made another attempt to revive the market, helping the index recover some of its losses. Banking, automobile and metal stocks remained under considerable selling pressure throughout the session. After witnessing volatility during the day, the Sensex recovered 303.70 points from its intraday low but eventually settled at 81,592.45, down 318.56 points, or 0.39 per cent.

Like the Sensex, the NSE Nifty 50 also began the session on a weak note, opening at 25,209.85, down 89.50 points, or 0.35 per cent. Buying activity emerged shortly after the opening, helping the index recover and climb to 25,246.35. However, renewed selling pressure subsequently dragged the index lower.

Amid sustained selling, the Nifty 50 fell 244.95 points, or 0.97 per cent, to touch an intraday low of 25,054.40. Buyers stepped in again during the final hour, lending some support to the index. Recovery from the day's low helped the Nifty regain 89.90 points, but it eventually closed at 25,144.30, down 155.05 points, or 0.61 per cent.

Selling pressure was widespread across sectoral indices. Shares in the automobile, metal and real estate sectors recorded the steepest declines. The Nifty Auto index fell 1.07 per cent, the BSE Metals index declined 0.93 per cent, and the Nifty PSE index lost 0.87 per cent. The Nifty Bank dropped 0.79 per cent, the BSE Oil and Gas index declined 0.76 per cent, and the Nifty IT index slipped 0.72 per cent. In contrast, the BSE Capital Goods index was the only major sectoral index to remain in positive territory, gaining 0.68 per cent.

The broader market also remained under pressure. The Nifty Midcap 100 index ended 0.24 per cent lower, while the Nifty Smallcap 100 index declined 0.26 per cent.

The market downturn resulted in a decline of more than Rs 3 lakh crore in investors' wealth. The total market capitalisation of companies listed on the BSE fell to a provisional Rs 510.19 lakh crore at the close of trading, compared with Rs 513.55 lakh crore on Thursday, the previous trading day. This represents an erosion of approximately Rs 3.36 lakh crore in investors' wealth during Friday's session.

A total of 4,672 stocks recorded active trading on the BSE during the session. Of these, 1,965 advanced, while 2,462 declined and 245 remained unchanged. On the NSE, 3,331 stocks were actively traded, of which 1,217 closed in positive territory and 2,114 ended with losses.

Among the 30 constituents of the Sensex, seven shares advanced, while 23 declined. Of the 50 Nifty constituents, nine closed higher, 40 ended lower and one remained unchanged.

Despite the broader market decline, Eicher Motors topped the Nifty 50 gainers' list, rising 1.34 per cent to close at Rs 7,650. It was followed by Hindustan Unilever, which gained 0.96 per cent to Rs 1,992.90; BSE Limited, which advanced 0.73 per cent to Rs 3,937.70; Asian Paints, which rose 0.53 per cent to Rs 2,550; and Bharti Airtel, which gained 0.48 per cent to close at Rs 2,106.

On the other hand, Shriram Finance emerged as the biggest Nifty 50 laggard, declining 3.37 per cent to close at Rs 970. Tata Motors Passenger Vehicles (TMPV) fell 3.31 per cent to Rs 287.40, followed by Grasim Industries, which lost 2.60 per cent to Rs 3,034; Hindalco Industries, which declined 2.12 per cent to Rs 943.60; and Adani Enterprises, which dropped 1.95 per cent to close at Rs 2,688.

Hindusthan Samachar / Jun Sarkar