Sensex slips 222 points to 38,165, Nifty below 11,500 mark

Mumbai: Equity benchmark indices edged lower on Friday as traders booked profits from recent gains.

The BSE S&P Sensex closed 222 points lower at 38,165 while the NSE Nifty 50 was slipped 64 points at 11,457.

The selling pressure was more pronounced in Reliance Industries, HDFC Bank, Kotak Mahindra Bank and Tata Consultancy Services.

However, the gainers were led by Spicejet, Larsen & Toubro, NTPC, Infosys and Axis Bank.
In fact, shares of SpiceJet closed with a gain of over 7 per cent while InterGlobe Aviation — the parent company of IndiGo — ruled firm to close 4 per cent higher amid reports that disruption in Jet Airways flight schedules could increase their market share.

But even Jet Airways closed with a gain of 3.6 per cent amid hopes related to its resolution plan.

The most active stocks on National Stock Exchange were HDFC Bank, Reliance Industries and Maruti.

Meanwhile, Asian shares were mostly in the green after upbeat US data and optimism in the tech sector lifted Wall Street stocks.

The International Energy Agency said that the United States has become the world’s biggest producer of crude oil ahead of Russia and Saudi Arabia, and could become a net oil exporter by 2021.

Brexit worries, however, continued to hang, leading investors to adopt a cautious approach.