The benchmark indices opened in green on Friday (July 23). Sensex was 130.66 points or 0.25 percent at 52,967.90 while the Nifty50 was 32.80 points or 0.21 percent up at 15,856.80.
After opening higher, the 30-share BSE index pared all gains to trade 141.67 points or 0.27 per cent lower at 52,695.54 in initial deals, while the broader NSE Nifty declined 42.05 points or 0.27 per cent to 15,782.
L&T was the top loser in the Sensex pack, shedding around 1 per cent, followed by Sun Pharma, Bajaj Finance, HDFC Bank and Kotak Bank.
On the other hand, HCL Tech, UltraTech Cement, Tata Steel, Titan and Maruti were among the gainers.
In the previous session, Sensex ended 638.70 points or 1.22 per cent higher at 52,837.21, while Nifty surged 191.95 points or 1.23 per cent to 15,824.05.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 247.59 crore on Thursday, as per provisional exchange data.
According to Binod Modi Head-Strategy at Reliance Securities, a sharp recovery in global markets propelled domestic equities to see sharp rebound on Thursday, while concerns over global growth due to recent rise in delta variants of coronavirus cases in different parts of the world continues to persist, PTI said.
"However, we continue to believe that the underlying strength of the domestic market remains intact," he said.
Results today
Reliance Industries, Ambuja Cements, JSW Steel, Federal Bank, United Spirits, Yes Bank, Artson Engineering, Atul, Aurionpro Solutions, Cigniti Technologies, Crompton Greaves Consumer Electricals, Dynamatic Technologlies, Fineotex Chemical, Majesco, Nectar Lifesciences, Panacea Biotec, ABB Power Products and Systems India, SBI Cards and Payment Services, Seshasayee Paper and Boards, SKF INdia and Symphony will declare their results today.
Asian markets trade mixed
Shares in Asia-Pacific were mixed in Friday morning trade as investors monitored Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. Bloomberg News reported that Beijing is considering harsh penalties on ride-hailing giant Didi.
US stocks booked a third straight day of gains Thursday, despite data showing first-time applications for unemployment benefits rose last week, as investors focused on health corporate earnings reports.
Even though many S&P 500 index sectors slipped, gains for several technology heavyweights, including Apple and Microsoft, pushed the index higher and close to a new record.
The Labor Department said initial jobless claims rose by 51,000 to 419,000 in the seven days ended July 17 — the highest level in almost two months. Existing-home sales rose 1.4 percent to a seasonally adjusted annual rate of 5.86 million in June, the National Association of Realtors said Thursday. Compared with June 2020, home sales were up nearly 22.9 percent, though the year-over-year comparisons are skewed by the onset of the COVID-19 pandemic last year. The median sales price of an existing home rose 23.4% year-over-year to a record $363,300.
Fuel prices unchanged
The oil marketing companies (OMC) kept the retail price of petrol and diesel unchanged on Friday for the sixth consecutive day. In the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre.
In Mumbai, where petrol prices crossed Rs 100-mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel price in the city is also at Rs 97.45, the highest among metros.
In Chennai, petrol is priced at Rs 102.49 per litre while the price of diesel is Rs 94.39 per litre. The price of petrol in Kolkata is Rs 102.08 per litre while diesel is sold at Rs 93.02 per litre.
International oil benchmark Brent crude declined 0.33 percent to $73.55 per barrel.
