The S&P BSE 500 index still included a total 21 number of shares which bucked up the market trend even after losses.
These stocks names include JK Tyres, DCM Shriram, Bajaj Auto, Ceat, Gateway Distriparks, Tata Motors, and Future Consumer etc. among others.
On a contrary, a lot of manufacturing or automobile companies are in the gainers list.
Indian stock market has recently witnessed a historic event when both the Sensex and the Nifty hit the benchmarks. Sensex mounted up at 50,000 with Nifty50 breaking records at 14,753.
This rally however could not retain its place. Lot of profit booking towards the end of closing bells dragged down the indexes with a higher value.
On the broader market, smooth transition was bucked up following strong results in the last quarter. The COVID vaccination has somehow driven the economy although some pushbacks are still upsurging.
Further, good foreign inflows were witnessed in the Indian Stock market on Friday. But they tended to remain only net buyers of cash segment in the Indian Market.
The total amount of buying was estimated to be Rs 21,000 crores in cash.
Technically, the profit booking was seen at highest levels when the Sensex reached the milestone of 50,000. Nifty closed at 0.4 percent for the week.
Experts believe that, if the Union Budget 2021 anyhow fails to meet the expectations, the index may fall down at worst.
Failure of the Union Budget 2021 will be responsible for increased profit booking and simultaneously the drag down of Nifty at 14000-14200 levels.
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