Due to negative global market trends and rising crude oil prices, equity benchmark indices saw a decline on Friday. Investor sentiment was also affected by withdrawals of foreign funds.
Hindustan Unilever, one of the Sensex companies, had its share of losses rise by more than 1% following the release of its second quarter earnings report, which showed a slight decrease in consolidated net profit to Rs 2,657 crore due to weaker demand in rural areas and increased competition.
Other notable laggards included HCL Technologies, ITC, Power Grid, Bajaj Finance, UltraTech Cement, and Asian Paints.
Among the winners were Nestle, Tata Motors, Kotak Mahindra Bank, and IndusInd Bank.
Seoul, Tokyo, Shanghai, and Hong Kong were trading in negative territory in the Asian markets.
On Thursday, the US markets finished down.
The benchmark for global oil, Brent crude, increased by 0.90 percent to USD 93.21 a barrel.
Exchange data shows that on Thursday, stocks worth Rs 1,093.47 crore were offloaded by Foreign Institutional Investors (FIIs).
“The US 10-year yield, which is currently at about 5%, is still a drag on the equities markets. Although the market is currently mostly ignoring it, the unstable situation in West Asia may present further short-term difficulties,
On Thursday, the BSE benchmark dropped 247.78 points, or 0.38 percent, to end the day at 65,629.24. The Nifty dropped to 19,624.70, down 46.40 points, or 0.24 percent.