Equity benchmark indices traded lower on Friday for the third consecutive session amid rising geopolitical tensions and selling pressure in realty, auto, IT and financial stocks.
Shares of Jet Airways sank further by 10.77 per cent to an all-time low at Rs 82.05 per share after NSE said the airline will soon no longer be traded in the derivatives market. In a bid to curb speculative trading, intraday trading in the stock will also be barred from June 28.
However, Adani Gas rose 3.2 per cent after reports that French energy giant Total SA is close to acquiring a 30 per cent stake in the company, Bharti Infratel, Larsen & Toubro, Sun Pharma, Power Grid and Adani Ports show thin gains.
Meanwhile, Asian stocks were subdued as China's industrial output grew 5 per cent in May from a year earlier, well below April's 5.4 per cent despite a series of support measures since last year.
Investors remained edgy, fearing a long-drawn trade war with the United States that could push the global economy into recession.
At the same time, the United States blamed Iran for attacks on two oil tankers in the Gulf of Oman on Thursday that drove up oil prices, raising concerns over a new US-Iranian confrontation that could push up oil prices.
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