Dear Trader…

Markets edged lower on Friday, losing over half a percent, primarily due to weak earnings. A sharp decline in Axis Bank following its results made participants cautious ahead of upcoming earnings from other banking heavyweights, namely HDFC Bank and ICICI Bank, which are scheduled over the weekend. Additionally, the results of another index heavyweight, Reliance Industries, expected after market hours on Friday, further added to the cautious sentiment.

In line with the benchmark move, most sectoral indices ended in the red, with banking, energy, and FMCG leading the losses. The broader indices also witnessed profit booking, each shedding nearly a percent.

Nifty futures opened at 25174 points against the previous close of 25167 and opened at a low of 24981 points. Nifty Future closed with an average movement of 189 points and a decline of around 142 points and 25032 points…!!

On the NSE, the midcap 100 index will decline 0.70% and smallcap 100 index is closing decline 0.82%. Speaking of various sectoral indices only Media, Metal & IT stocks were seen gains on the NSE, while all other sectoral indices closed lower.

At the start of intra-day trading, August gold opened at Rs.97320, fell from a high of Rs.98157 points to a low of Rs.97320 with a rise of 675 points, a trend of around Rs.98148 and September Silver opened at Rs.1,12,529, fell from a high of Rs.1,13,688 points to a low of Rs.1,12,505 with a rise of 1131 points, a trend of around Rs.1,13,465.

Meanwhile, The FIIs as per Friday’s data were net sellers in both equity and debt segments, according to data released by the NSDL. In equity segment, the gross buying was of Rs 12506.81 crore against gross selling of Rs 15370.93 crore. Thus, FIIs stood as net sellers of Rs 2864.12 crore in equities.

In the debt segment, the gross purchase was of Rs 1762.35 crore with gross sales of Rs 1991.24 crore. Thus, FIIs stood as net sellers of Rs 228.89 crore in debt. Of the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs 332.77 crore, they stood at net sellers in Debt-VRR segment at Rs 377.24 crore, while net sellers in Debt-FAR segment at Rs 184.42 crore.

In the hybrid segment, the gross buying was of Rs 28.09 crore against gross selling of Rs 46.14 crore. Thus, FIIs stood as net sellers of Rs 18.05 crore in hybrid segment.

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