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MARKET: Sensex slips 433 pts ahead of AGR hearing; Nifty Bank down over 2%

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SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

MARKET: Indices see a sharp fall, Sensex tumbles 600 pts; financials tank
NSE's Nifty ended at 11,178, down 122 points or 1.08 per cent.
The domestic stock market ended over 1 per cent lower on Friday amid selling in financial counters ahead of the hearing of (AGR) case in the Supreme Court. Further, weak global cues such as lacklustre Chinese economic data and confusion over US fiscal stimulus, too, weighed on investor sentiment. 

The S&P BSE Sensex today shed 433 points or 1.13 per cent to settle at 37,877 levels. HDFC Bank, ITC, ICICI Bank, Axis Bank, and Reliance Industries (RIL) were the major contributors to the index's loss. NSE's Nifty ended at 11,178, down 122 points or 1.08 per cent. 

On a weekly basis, Sensex slipped 0.4 per cent while Nifty lost 0.3 per cent.

In the broader market, the S&P BSE MidCap index fell over 1 per cent to 14,434 levels while the S&P BSE SmallCap index declined 0.6 per cent to 13,855.18 points. 

Among sectoral indices on the NSE, Nifty Auto slipped 2.56 per cent while Nifty Bank fell over 2 per cent. 

Global markets

Global shares dipped on Friday after lacklustre Chinese economic data and worries about a delay in US fiscal stimulus discouraged some investors from taking on risk. European shares were also dragged lower by a hit to travel stocks after Britain added more European countries to its quarantine list. The pan-European STOXX 600 was down 0.7 per cent, although on track to gain for a second straight week.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.1 per cent, although shares in Japan rose 0.2 per cent.

Chinese shares rose 1.5 per cent in choppy trade, with the data suggesting domestic demand is still struggling after the coronavirus outbreak.

E-mini futures for the S&P 500 were flat.

(With inputs from Reuters)

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