Equity indices close in the red, Jet plunges over 32 pc

Equity benchmark indices ended the week on a negative note with stocks of grounded Jet Airways plunging as much as 32.23 per cent.

The airline's stock closed at Rs 163.90 on Thursday, a day after the consortium of government-owned lenders refused to infuse critical interim funding in the cash-starved airline.

The S & P BSE Sensex closed 135 points down at 38,140 while the Nifty 50 dipped 34 points at 11,753.

All sectoral indices showed losses with realty down 2.5 per cent and public sector banks down 2 per cent.

Yes Bank, Indiabulls Housing Finance, Hindalco, Zee Entertainment and Vedanta shed over 3 per cent.

But SpiceJet gained 2.7 per cent at 136.25 after fresh announcement of new planes being added in the fleet to expand network and increase seat capacity.

Reliance Industries gained 2.85 per cent after reports suggesting a possible 25 per cent stake sale in its refining arm to Aramco.

Tata Motors, JSW Steel, Wipro and Bharat Petroleum also traded in the green.

The markets will remain closed tomorrow on account of Good Friday.

Meanwhile, shares in Asian markets slipped after losses on the Wall Street but trade was lacklustre.

Investors awaited business surveys in Europe and were trying to gauge how much more stimulus Beijing will use to boost growth without triggering financial risks.

Market participants are also eyeing signs of progress in US-China trade negotiations.