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Closing Bell: Market ends with minor gains, Nifty ends below 9,300; PSU bank index top laggard

Closing Bell: Market ends with minor gains, Nifty ends below 9,300; PSU bank index top laggard

Closing Bell: Market ends with minor gains, Nifty ends below 9,300; PSU bank index top laggard
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By CNBCTV18.com May 8, 2020 4:24:24 PM IST (Updated)

Indian domestic market slipped from morning highs and ended with minor gains on Friday due to the losses in PSU banks and auto stocks. The S&P BSE Sensex closed the session with gains of 200 points at 31,643 while the Nifty50 index ended at 9,251, up 52 points.

Indian domestic market slipped from morning highs and ended with minor gains on Friday due to the losses in PSU banks and auto stocks.

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The S&P BSE Sensex closed the session with gains of 200 points at 31,643 while the Nifty50 index ended at 9,251, up 52 points. Nifty Bank index slipped 234 points from highs to close 42 points lower at 12,789.
Among sectoral indices, Nifty Pharma and Nifty FMCG surged 2 percent while PSU banks and auto index slipped nearly 2 percent lower.
HUL, Sun Pharma, Dr Reddy's Laboratories, Tech Mahindra and Nestle India remained the top gainers of the day while NTPC, M&M, Axis Bank, IndusInd Bank and JSW Steel were the top losers.
Reliance Industries remained the top gainer throughout the day after it announced that US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in Jio Platforms for Rs 11,367 crore.
The stock also hit Rs 10 lakh crore market capitalisation today after the Vista deal.
Dr Reddy's Laboratories rose 7 percent to its 52-week high of Rs 4,099.90 per share on Friday after it received the Establishment Inspection Report (EIR) from US health regulator USFDA for its manufacturing plant at Srikakulam.
Yes Bank announced that it has kick-started the process for the second tranche of capital raising and is seeking to raise Rs 5,000 crore, sources told CNBC-TV18.
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