Markets kicked off new F&O series on a sour note on Friday, with the BSE Sensex falling 157 points to 28,051.86 hit by profit-booking in banking stocks while global cues remained muted on Bank of Japan's smaller-than-expected stimulus plan.
However, on a weekly basis, the Sensex rose 248.62 points or 0.89 per cent and the NSE Nifty perked up 97.30 points or 1.13 per cent. Both the indexes are up for a fifth consecutive month. On the day, country's largest private sector lender ICICI Bank plunged 3.40 per cent to Rs 262.85 ahead of its quarterly result. Many state-run and private sector banks, which have declared their earnings numbers for April-June period, witnessed rise in bad loans.
Infrastructure giant larsen & Toubro, which reported a 46 per cent jump in net profit to Rs 610 crore for June quarter after the market closing, slipped 1.20 per cent to Rs 1,558.
“Volatility continues to plague stock markets as benchmark indices traded with spikes through the day. August derivatives series seem to have started on a tepid note,” said Shreyash Devalkar, Fund Manager – Equities, BNP Paribas Mutual Fund.