Indian stocks traded lower on Friday, with the Sensex and Nifty retreating slightly after hovering near record highs in the previous session. The rally that gathered pace on Thursday lost steam midway and reversed in the final hour as optimism over a potential US-India trade deal faded when the Indian government refrained from confirming reports of an imminent deal.
The S&P BSE Sensex fell 106.67 points, or 0.13%, to trade at 84,449.73, while the NSE Nifty 50 slipped 26.70 points, or 0.1%, to start at 25,864.70.
On the 30-share Sensex, Hindustan Unilever, Kotak Mahindra Bank, Axis Bank, Power Grid, and Titan led the declines, falling between 0.5% and 5%.
Among sectors, the Nifty FMCG index was the biggest drag, down 1.3%, while the Nifty Pharma index slipped 0.7%.
Broader markets were subdued, with both midcap and smallcap stocks trading flat.
Colgate-Palmolive (India) shares dropped nearly 4% after the company posted a 17% year-on-year decline in net profit for the September quarter. Hindustan Unilever shares slid almost 5% even as the FMCG major reported a 3.6% rise in consolidated net profit for the same period, as brokerages turned cautious on the stock citing margin pressures.
MORE TO COME...
The S&P BSE Sensex fell 106.67 points, or 0.13%, to trade at 84,449.73, while the NSE Nifty 50 slipped 26.70 points, or 0.1%, to start at 25,864.70.
On the 30-share Sensex, Hindustan Unilever, Kotak Mahindra Bank, Axis Bank, Power Grid, and Titan led the declines, falling between 0.5% and 5%.
Among sectors, the Nifty FMCG index was the biggest drag, down 1.3%, while the Nifty Pharma index slipped 0.7%.
Broader markets were subdued, with both midcap and smallcap stocks trading flat.
Colgate-Palmolive (India) shares dropped nearly 4% after the company posted a 17% year-on-year decline in net profit for the September quarter. Hindustan Unilever shares slid almost 5% even as the FMCG major reported a 3.6% rise in consolidated net profit for the same period, as brokerages turned cautious on the stock citing margin pressures.
MORE TO COME...
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