Closing Bell: Sell-off in metal, bank stocks drives market to end lower for 6th straight session

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Sensex, Nifty ended lower for the sixth straight day despite upbeat global mood. On Friday, the markets were engulfed in fag-end selling as investors booked profits in banks and metal stocks. The 30-scrip Sensex closed 136.69 points down or 0.26 percent lower at 52,793.62, and the broader Nifty was down 25.80 points or 0.16 percent at 15,782.20.

Closing Bell: Sell-off in metal, bank stocks drives market to end lower for 6th straight session
Indian equity benchmark indices erased all the intraday gains and ended lower for the sixth consecutive session on Friday, as investors booked profit in banks and metal stocks.
The 30-scrip Sensex closed 136.69 points down or 0.26 percent lower at 52,793.62, and the broader Nifty was down 25.80 points or 0.16 percent at 15,782.20.
Among the top Nifty losers were Hindalco Industries, SBI, JSW Steel, NTPC and ICICI Bank.
Gainers included Tata Motors, Sun Pharma, Mahindra & Mahindra, ITC and Hindustan Unilever.
Amid the sectoral indices, On the sectoral front bank, metal and power indices ended 1-2 percent lower, while auto, FMCG, pharma indices rose 1-2 percent.
In the broader market, the BSE SmallCap index added over 1.3 per cent and the BSE MidCap index gained 0.6 per cent.
State Bank of India (SBI) — the country's largest lender by assets — on Friday reported a 41.3 percent year-on-year jump in quarterly net profit to a record Rs 9,113.5 crore, missing Street estimates. SBI shares made a U-turn after an initial spike following the earnings announcement, finishing the day down four percent.
Besides it, Tata Motors stock jumped over 8 percent shares jumped on Friday, a day after the auto major reported a surprise standalone net profit boosted by improving margins.
The Delhivery IPO was fully subscribed despite challenging market conditions. The issue was subscribed 1.12 times, data provided by the BSE showed.
Meanwhile, Venus Pipes and Tube's issue had been subscribed 9.16 times, led by retail investor category that had been subscribed 13.58 times. NII's portion was subscribed 6.4 times.
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