NEW DELHI: Markets on Friday finished lower with the benchmark BSE Sensex losing nearly 100 points ahead of Infosys’ quarterly results. Sensex dropped 97 points or 0.27 per cent to close at 36,010, while the broader NSE Nifty shed 27 points or 0.25 per cent to settle at 10,795.
On the BSE index, IndusInd Bank, Tata Motors, TCS, Yes Bank, LT and Tata Steel were among the major losers with their stocks down as much as 3.26 per cent. On NSE, sub-indices Nifty Realty and PSU Bank were among the worst performing, down as much as 1.35 per cent.
“There is a sense of caution among investors, and there is a fairly bearish sentiment out there, but the index is holding its own and not selling off,” said Sunil Sharma, chief investment officer with Sanctum Wealth Management, Mumbai.
“The large caps in particular are showing resilience. There are fairly positive cues in terms of macros, domestically we should start seeing improvements from corporate banks and PSUs based on lower loan provisioning,” Sharma added.
Some state-owned banks will have to wait for about a month before knowing which of them will have lending curbs eased after a Reserve Bank of India (RBI) panel reviews their December quarter results, an official with direct knowledge of the matter told Reuters.
Shares of Infosys, scheduled to report quarterly earnings later in the day, finished 0.58 per cent higher on BSE.