Sensex, Nifty close in red; Future Retail locks in at lower circuit, Future Lifestyle Fashions declines by nearly 5 per cent

Domestic benchmark indices closed flat on Friday as Sensex dropped by 0.03 per cent or 11.57 points to settle at 38,128.90 while Nifty fell by 0.19 per cent or 21.30 points to end at 11,194.15.

On the global front, in Asian markets, Shanghai index dipped by 3.86 per cent on growing concerns about the rising US-China tensions as China ordered US to close down the US consulate in Chengdu as retaliation for the closing of the China consulate in Houston. Hang Seng, Nikkei and KOSPI decreased by 2.21 per cent, 0.58 per cent and 0.71 per cent respectively. In European markets, FTSE 100, DAX and CAC 40 were trading lower by 1.03 per cent, 1.34 per cent and 1.09 per cent respectively.

Majority of the Future group stocks declined in today's trading session post Future Retail's announcement that it had missed the payment of semi-annual interest of US$ 14 million on its US dollar bonds. Future Retail locked in at its lower circuit while Future Lifestyle Fashions Ltd (FLFL) fell by 4.46 per cent, Future Consumer declined by 3 per cent and Future Supply Chain Solutions fell by 3.27 per cent on BSE.

Hero MotoCorp announced an additional investment of Rs 84 crore in Ather Energy. This development further increased its shareholding in the latter to 34.58 per cent from previous 31.27 per cent.

Amid selling seen in domestic equity markets, the Indian Rupee ended marginally lower at 74.83 per dollar. It had opened 19 paise lower at 74.94 per dollar against Thursday's close of 74.75.

In the Sensex basket, seven stocks gained while 23 stocks declined. Sensex winners included HCL Technologies soaring by 4.29 per cent, RIL rallying by 4.15 per cent, Tech Mahindra gaining by 3.25 per cent, Sun Pharmaceutical Industries increasing by 1.95 per cent, IndusInd Bank rising by 1.61 per cent, Infosys up by 1.51 per cent and Power Grid up by 0.05 per cent. Sensex draggers were made up of Axis Bank dropping by 3.32 per cent, SBI declining by 3.32 per cent, ONGC decreasing by 2 per cent, HDFC falling by 1.80 per cent, Kotak Mahindra dipping by 1.77 per cent, Tata Steel down by 1.69 per cent, etc.

Amongst BSE sectoral indices, Metal index was the biggest loser, down by 2.11 per cent while Energy index was the biggest gainer, up by 2.90 per cent. BSE small-cap index fell by 0.23 per cent while BSE mid-cap index dropped by 0.59 per cent.