Sensex, Nifty bleeds first time in four months; Midcaps at biggest 1-day close

The market on Friday traded at its lowest as the Nifty ended below 8300 for first time in four months.

The Nifty traded down 229.45 points or 2.7 percent at 8296.30 and the Sensex traded down 698.86 points or 2.5 percent at 26818.82.

Shares such as Adani Ports, Hero MotoCorp, ICICI Bank and Tata Motors are losers in the Sensex.

On the other hand, airfares are set to rise with the government deciding to levy up to Rs. 8,500 per flight on major routes to fund the regional air connectivity scheme. The levy amount would be for an entire flight and the price of each ticket could go up depending on the number of seats in that particular flight.

Civil Aviation Secretary RN Choubey said the levy would be up to Rs. 8,500 per flight depending on distance. The ambitious scheme UDAN (Ude Desh ka Aam Naagrik) seeks to connect small cities by air as well as make flying more affordable for the masses.

Also, several British lawmakers have said they are prepared to vote against Brexit negotiations after UK judges ruled that the government needed parliamentary approval to begin its departure process from the EU.

The opposition for Brexit could derail the process and increase the period of uncertainty for investors.