Nifty Metal index fell 1.07%. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) NATL. ALUMINIUM 78.35 80.45 -2.10 -2.61 WELSPUN CORP 140.25 144.00 -3.75 -2.60 COAL INDIA 271.30 276.95 -5.65 -2.04 HIND.ZINC 303.50 309.45 -5.95 -1.92 VEDANTA 281.65 286.20 -4.55 -1.59 Nifty Pharma index ends 1.66% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) SUN PHARMA.INDS. 517.85 536.00 -18.15 -3.39 CIPLA 597.00 609.30 -12.30 -2.02 GLENMARK PHARMA. 535.35 542.50 -7.15 -1.32 PIRAMAL ENTERP. 2495.00 2527.95 -32.95 -1.30 CADILA HEALTH. 389.10 393.80 -4.70 -1.19 Sectoral Trend BSE Sensex: Adani Ports, Hindustan Unilever top gainers of the day, Sun Pharma top loser Market at close The S&P BSE Sensex ended at 34,915, down 188 points while the broader Nifty50 index settled at 10,618, down 61 points. $2.7 bn shaved off PC Jeweller m-cap after promoter gifts shares to family An Indian jeweller that saw its market worth reach $3.6 billion at the start of the year is now floundering at about a quarter of that value after one of its founders gifted some shares to family members, raising concern about the company’s governance. PC Jeweller Ltd. slumped by about half after the company said last week that one of its founders P.C. Gupta made the gifts through off-market transactions. The stock has plunged 75 per cent from a record on January 19, taking its market capitalization to Rs 58.3 billion ($873 million). It climbed 21 per cent to Rs 146.85 as of 12.31 p.m. in Mumbai on Friday. READ MORE
Benchmark indices dropped on Friday tracking global markets, while metal and pharma stocks pulled down the indices ahead of elections in the key state of Karnataka.
The S&P BSE Sensex ended at 34,915, down 188 points while the broader Nifty50 index settled at 10,618, down 61 points.
Among sectoral indices, the Nifty Metal index was trading over 1% lower led by a fall in shares of Hindustan Zinc and Hindalco. The Nifty IT index, too, was down led by a fall in shares of Mindtree and Wipro. Among the FMCG counters, ITC, Emami, GSK Consumer slipped over 2% on the NSE.
Pharma stocks pushed both indices lower, with the Nifty Pharma index falling over 1.5%.
On the macro front, Activity in India's dominant service sector accelerated in April thanks to a pick up in new business that encouraged firms to hire at the fastest pace in seven years, a private survey showed on Friday.
Asian shares stepped back, while the dollar ran into some profit-taking after a strong week of gains as financial markets turned their attention to looming US payrolls data for fresh catalysts.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.26 per cent, while Japan’s Nikkei stock index slid 0.16 per cent.
(with Reuters input)