Markets skid for third day as global factors weigh; post weekly losses

The Sensex and Nifty retreated for the third session on the trot on Friday amid continued weakness in global markets due to rising Covid-19 cases in Europe and uncertainty ahead of US elections.

 

After gyrating 746 points during the day, the Sensex ended 135.78 points, or 0.34 per cent lower at 39,614.07.

 

Similarly, the Nifty50 slipped 28.40 points, or 0.24 per cent, to 11,642.40.

 

Bharti Airtel was the top loser among the Sensex constituents, shedding 3.82 per cent, followed by Maruti, HUL, Bajaj Finance, ICICI Bank, Kotak Bank, and Bajaj Auto.

 

On the other hand, Tata Steel, NTPC, Sun Pharma, Nestle India, TCS, Tech Mahindra, and ONGC were among the main gainers, climbing up to 2.27 per cent.

 

Asian shares falter again

 

A gauge of Asian shares fell for a third session on Friday. MSCI's broadest index of Asia-Pacific shares outside of Japan was last down 0.3 per cent, on track to end the week 1.3 per cent lower after four straight weeks of gains. The index has risen 3.7 per cent in October so far. Analysts expect this broader outperformance to extend further. ”For a crisis of this scale, Asian equities have performed remarkably well,” Citi analysts wrote in a note.

Reuters