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Sensex tanks 316 pts, Nifty ends below 10150 as Q2 GDP fails to lift spirit

All that happened in Friday's trade

SI Reporter  |  New Delhi 

Jayant Manglik, President Retail Sales, Religare Securities   The benchmark indices pared early gains and witnessed continued selling pressure for the third straight consecutive session. India’s Q2 GDP data came in line with market expectations, but it failed to lift the market amid fiscal deficit and rising crude prices concerns. The broader market indices also reacted in line with the frontline index. All the major sectoral indices ended in red with metal, oil&gas, consumer durables and auto being the top losers.   In the near term, market may remain volatile given RBI policy next week and US Fed meet in the second week of December. With steady reform implementation and improved corporate earnings, India would continue to remain a preferred investment destination for FIIs and DIIs despite its premium valuations compared to other emerging markets. However, we advise traders to avoid overleveraging and keep their positions hedged until the outcome of RBI policy. Top Sensex gainers and losers  Source: BSE Markets at close The S&P BSE Sensex ended at 32,832, down 316 points, while the broader Nifty50 settled at 10,121, down 104 points.  Index Current Pt. Change % Change   S&P BSE SENSEX 32,832.94 -316.41 -0.95   S&P BSE SENSEX 50 10,562.77 -111.64 -1.05   S&P BSE SENSEX Next 50 35,098.12 -376.02 -1.06   S&P BSE 100 10,593.22 -112.21 -1.05   S&P BSE Bharat 22 Index 3,677.43 -34.56 -0.93 Source: BSE Buzzing stock   UFO Moviez India dipped 7% to Rs 453 on the BSE after reporting 44% decline in net profit at Rs 11.3 crore in September quarter (Q2FY18), due to lower operational revenue. The company had a profit of Rs 20 crore in the same quarter last year. CLICK HERE FOR MORE   Q2 GDP growth raises some hope, but meeting FY18 forecast still not easy   The Indian economy has to grow by at least 7.5 per cent in each of the remaining two quarters of the current financial year, if it has to come anywhere near the various growth forecasts made by different agencies. This is one message policy makers cannot ignore while they interpret the economic growth numbers for July-September 2017, released by the Central Statistics Office on Thursday. READ FULL ANALYSIS Top five Nifty losers in last leg of trade Source: NSE

In a volatile trading session, the benchmark indices ended lower with the Nifty50 settling the first day of December expiry below 10,150 as economic growth data came in largely as expected, failing to boost a market weighed down by concerns about the country’s fiscal deficit and global risk factors such as rising crude prices. Data late on Thursday showed India’s gross domestic product grew 6.3% in July-September, in line with expectations, as businesses started to overcome troubles after the bumpy launch of Goods and Services Tax (GST). The ...

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First Published: Fri, December 01 2017. 15:38 IST
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Sensex tanks 316 pts, Nifty ends below 10150 as Q2 GDP fails to lift spirit

All that happened in Friday's trade

All that happened in Friday's trade In a volatile trading session, the benchmark indices ended lower with the Nifty50 settling the first day of December expiry below 10,150 as economic growth data came in largely as expected, failing to boost a market weighed down by concerns about the country’s fiscal deficit and global risk factors such as rising crude prices. Data late on Thursday showed India’s gross domestic product grew 6.3% in July-September, in line with expectations, as businesses started to overcome troubles after the bumpy launch of Goods and Services Tax (GST). The ... image
Business Standard
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Sensex tanks 316 pts, Nifty ends below 10150 as Q2 GDP fails to lift spirit

All that happened in Friday's trade

In a volatile trading session, the benchmark indices ended lower with the Nifty50 settling the first day of December expiry below 10,150 as economic growth data came in largely as expected, failing to boost a market weighed down by concerns about the country’s fiscal deficit and global risk factors such as rising crude prices. Data late on Thursday showed India’s gross domestic product grew 6.3% in July-September, in line with expectations, as businesses started to overcome troubles after the bumpy launch of Goods and Services Tax (GST). The ...

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Business Standard
177 22