Share Market Today: Stock markets fell on Friday due to selling in bank and IT stocks amid weak global cues and the continued fall in the rupee. Sensex fell by 720 points while Nifty slipped by 184 points. Analysts said that investors reduced their risk before the quarterly results start coming next week. Apart from this, the continuous weakness in the rupee against the US dollar also affected the sentiment. Despite a positive start, the BSE's 30-share benchmark index Sensex closed at 79,223.11, down 720.60 points or 0.90 percent. During trading, at one time it fell 833.98 points to 79,109.73.

this week's story

The National Stock Exchange (NSE) index Nifty also closed at 24,004.75, down 183.90 points or 0.76 percent. With this, the trading week ended with a decline. In this week full of ups and downs, the Sensex registered a total increase of 524.04 points or 0.66 percent while the Nifty rose 191.35 points or 0.80 percent. Among the companies included in the Sensex group, Zomato, HDFC Bank, Tech Mahindra, Adani Ports, Tata Consultancy Services, ICICI Bank, Sun Pharma, Larsen & Toubro, HCL Tech and ITC declined.

These stocks saw gains

On the other hand, shares of Tata Motors, Nestle, Titan, Hindustan Unilever, and Reliance Industries closed with gains. Vinod Nair, Head of Research, at Geojit Financial Services, said, "The market is witnessing a sell-off at higher levels due to the strength of the dollar, high market valuation, and the growing trend towards investing in multiple asset classes simultaneously. The US Federal Reserve also does not seem to be in a hurry to cut interest rates shortly." Nair said that in the coming time, the Indian market will focus on the results of the third quarter. It is expected that the figures will be better than the second quarter.

What is the opinion of experts?

The BSE Midcap index of mid-sized companies fell by 0.33 percent while the BSE Smallcap index of small companies was down by 0.02 percent. Among the sectoral indices, the IT sector fell by 1.31 percent while the technology sector fell by 1.13 percent and the bank sector declined by 1.07 percent. Siddharth Khemka, Head of Research (Wealth Management), Motilal Oswal Financial Services Ltd, said, "In the near term, we expect the market to see activity on business announcements of companies before their quarterly data is released."