The Nifty and the Sensex ended in the red on Friday with quarterly results throwing up a mixed bag.
The Nifty was down 41 points and closed at 5664 and the Sensex was down 133 points and closed at 18625.
Dealers said that the market was awaiting RBI’s next move in its review of the monetary policy on October 30.
“The indices may be choppy in a narrow range for quite some time now. The results of course will continue to steer stock-specific movement. All in all the recent initiatives taken by the government augur well for now as sentiment had earlier been hit by policy paralysis. Considerable challenges prevail on the macro front though with inflation refusing to cool materially. A lot of attention will be paid to the political developments over the weekend. Expectations are that a cabinet reshuffle is on the cards which may bring in a whole set of young ministers,” said Amar Ambani, Head of Research, IIFL.
Volatlity was up 5.1 per cent and the India Vix closed at 14.21. M&M, Hero Motrocorp, Bajaj Auto, Ambuja Cement and Asian Paints were the top five Nifty gainers while, PNB, JP Associates, HUL, ITC and R-Infra were the top losers.