Sensex drops 366 pts in volatile trade, Nifty settles below 19300 amid global concerns

The Indian equity market indices ended low on Friday as financials, IT and oil shares took a hit amid concerns over potential rate hikes and weak trend in global markets. At close,the Sensex was down 365.83 points, or 0.56 percent at 64,886.51, and the Nifty declined 120.90 points, or 0.62 percent to 19,265.80.For the week, the Sensex and the Nifty ended flat.
Stocks and Sectors
Bajaj Finserv, Asian Paints, Bajaj Finance, ONGC and Bharti Airtel were among the top gainers on the Nifty, while losers included Dr Reddy's Laboratories, Adani Ports, JSW Steel, Power Grid and Larsen and Toubro.
On the sectoral front,all indices ended in the red, with capital goods, FMCG, PSU bank, metal, realty and power down one percent each.The BSE midcap index was down nearly one percent and the smallcap index 0.2 percent.
On 25th Aug'23,the Indian rupee snapped three-day rally and  ended 8 paise lower to close at 82.65 against US dollar; posts best week in 1-1/2 months,amid a stronger greenback and weakness in domestic equities. 
Experts Take:
Market experts have recommended six stocks to buy for Friday- Asian paints, Tata Chemical, REC, M&M Finance, APL Apollo Tubes and JK Paper.

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