Sensex 202 pts lower, Nifty below 19350, IT stocks major hit

The Indian equity market indices ended lower for the second consecutive session on Friday,dragged by IT stocks, tracking a slide in global equities on rate concerns in the United States and deflation and demand worries in China. At close, the Sensex was down 202.36 points or 0.31 percent at 64,948.66, and the Nifty was down 55.10 points or 0.28 percent at 19,310.15.For the week, Sensex and Nifty fell 0.5 percent each.

Adani Enterprises, Adani Ports, Eicher Motors, Maruti Suzuki and Nestle India were biggest gainers on the Nifty while losers included Hero MotoCorp, TCS, Coal India, Hindalco Industries and Tech Mahindra. On the sectoral front,except FMCG and Power, all other indices ended in the red with Information Technology index shed 1.5 percent and Metal index down nearly 1 percent. The BSE midcap and smallcap indices ended on a negative note.

On 18th Aug'23, the Indian rupee ended 5 paise higher to close at 83.10 against the US dollar.

Market experts have recommend five stocks to buy for Friday-Tata Consumer, Sun Pharma, M&M Finance, Titan Company and Adani Ports.