- Nifty snaps 8-day winning run on weak global cues; Sensex falls 652 points
- Block mechanism in demat must for share sale transactions from Nov: Sebi
- New 10-year bond pricing flags concern of inflation, say dealers
- Ambuja Cements surges 10% in one week; stock inches towards 52-week high
- RIL eyes new high; ONGC, HPCL can gain up to 8% amid windfall tax revision
- Sensex on track to hit 65,000 in the medium-term, charts show
- Power Mech hits new high on order win from Adani Group; soars 52% in 1 mth
- IRCTC gains 3% on data monetisation plan; analysts see more upside
- Tata Chemicals hits new high; surges 38% in one month on healthy outlook
- Adani Power surpasses NTPC in m-cap ranking; zooms 318% thus far in 2022
MARKET WRAP: Sensex slips 334 pts, Nifty holds 11,900; YES Bank tumbles 11%
All that happened in the markets today
Investors turned to profit-booking on Friday as weak growth concerns dampened sentiment at D-Street. Financials slipped the most on the index with heavyweights such as State Bank of India, HDFC, and ICICI Bank declining up to 5 per cent.
On Thursday, the Reserve Bank of India (RBI) sharply lowered its gross domestic product (GDP) growth forecast for financial year 2019-20 (FY20) further by 110bps to 5 per cent from 6.1 per cent on substantially weaker growth in Q2FY20, and incremental data on Q3 which suggests that the slowdown is still persisting. Besides, the central bank retained status quo on rates, against expectation for a 25bps cut, on inflationary concerns. The accommodative stance was maintained on rising output gap.
The benchmark S&P BSE Sensex closed 334 points, or 0.82 per cent, lower at 40,445.15 level. YES Bank, SBI, Tata Motors, HDFC, and IndusInd Bank were the top laggards at the 30-share index. Loses were, however, trimmed by gains in Reliance Industries, and HDFC Bank. In the intra-day trade, the Sensex hit a low of 40,337.53.
On the NSE, the Nifty50 slipped below the 11,900-mark in the intra-day trade to hit a low of 11,888.85. At close, the index was at 11,921.5 level, down 97 points, or 0.81 per cent. All the sectoral indices ended the day in the red. Nifty PSU Bank index was the top loser, down over 4 per cent.
In the broader market, mid-caps tumbled the most. The S&P BSE mid-cap index ended the day 1.27 per cent lower at 14,668.31, while the S&P BSE small-cap index closed at 0.85 per cent lower at 13,341.39.
Asian shares ended higher on Friday after Beijing said it will waive import tariffs for some soybeans and pork shipments from the United States.
Japan's Nikkei index gained 0.23 per cent, South Korea's Kospi up 1.02 per cent, and China's Shanghai Composite added 0.43 per cent.
In Europe, the pan-European STOXX 600 index rose 0.3 per cent by around 2:00 pm, with banks, technology firms and retail companies leading the gains.
(With inputs from Reuters)
(With inputs from Reuters)