Sensex, Nifty extend losing run to 4th day,HDFC shares weigh

The Indian equity indices ended on a sombre note on Friday extending the losing run to the 4th straight session,as mixed cues from US and Asian markets weakened domestic investors’ confidence. Nevertheless, PSU bank stocks outperformed as India's inclusion in JP Morgan's Government Bond Index led to a decline in bond yields.A broad basis, risk-averse sentiment prevailed due to the ongoing ascent of US bond yields and concern over higher rates for a prolonged period.At close,the Sensex was down 221.09 points or 0.33 percent at 66,009.15 and the Nifty was down 68.10 points or 0.34 percent at 19,674.25
Stocks and Sectors
Barring Nifty PSU Bank and Nifty Auto, which rose 3.51 percent and 0.21 percent, respectively, all sectoral indices closed in the red. Nifty Healthcare was the biggest loser, down 1.59 percent followed by the Nifty Pharma index.
Among the Nifty 50 stocks, IndusInd Bank was the top gainer (up 2.86 percent) followed by Maruti Suzuki, which rose on positive brokerage notes. SBI, M&M and Asian Paints were other top gainers.Wipro was the biggest loser (down 2.44 percent) following the resignation of its Chief Financial Officer Jatin Dalal. Dr Reddy's Labs, UPL Cipla and Bajaj Auto were other top losers of the day.
Broader market indices were mixed. Nifty Smallcap 100 added 0.26 percent but Nifty Midcap 100 declined 0.11 percent. BSE 500, the broadest index on NSE, fell 0.25 percent as well.
On 22 Sep'23,the Indian rupee appreciated 19 paise to close at 82.94 against the US dollar ,as the inclusion of India in the JPMorgan bond index boosted investor sentiment.
Experts Take:
Market experts have recommended six stocks to buy for Friday-TechM, LT, DLF, M&M Finance, EMIL and Asian Paints.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)