Markets kicked off new F&O series on a sour note on Friday, with the BSE Sensex falling 157 points to 28,051.86 hit by profit-booking in banking stocks while global cues remained muted on Bank of Japan's smaller-than-expected stimulus plan.
Mumbai: Markets kicked off new F&O series on a sour note on Friday, with the BSE Sensex falling 157 points to 28,051.86 hit by profit-booking in banking stocks while global cues remained muted on Bank of Japan's smaller-than-expected stimulus plan.
However, on a weekly basis, the Sensex rose 248.62 points or 0.89 percent and the NSE Nifty perked up 97.30 points or 1.13 percent. Both the indexes are up for a fifth consecutive month.
On the day, country's largest private sector lender ICICI Bank plunged 3.40 percent to Rs 262.85 ahead of its quarterly result. Many state-run and private sector banks, which have declared their earnings numbers for April-June period, witnessed rise in bad loans.
Infrastructure giant Larsen & Toubro, which reported a 46 percent jump in net profit to Rs 610 crore for June quarter after the market closing, slipped 1.20 percent to Rs 1,558.
"Volatility continues to plague stock markets as benchmark indices traded with spikes through the day. August derivatives series seem to have started on a tepid note," said Shreyash Devalkar, Fund Manager ? Equities, BNP Paribas Mutual Fund.
The 30-share Sensex despite opening higher, stayed in the negative zone for the most part of the session and touched a low of 28,037.87. The gauge finally settled 156.76 points or 0.56 percent down at 28,051.86.
The 50-share NSE Nifty ended 27.80 points or 0.32 percent down at 8,638.50.
Both the indices had witnessed buying activity in the last two sessions on positive signals over the GST bill and improvement in corporate earnings.
However, broader markets outperformed the Sensex with the mid-cap and small-cap indices rising 0.70 percent and 0.23 percent, respectively.
Globally, trading sentiment was bearish as the BoJ disappointed by keeping interest rates and government bond buying unchanged, at a time when many analysts were expecting the central bank to be bold with economy boosting measures.
Despite this, the Nikkei 225 Average ended 0.56 percent higher but other Asian indices in China, Hong Kong, Singapore, South Korea and Taiwan fell by up to 1.71 percent.
Europe was narrowly mixed as indices in France and the UK eased by up to 0.24 percent while Germany's Dax was higher by 0.43 percent.