[ad_1]
Share Market News: The benchmark indices on BSE and National Stock Exchange (NSE) ended over 1 per cent lower on Friday weighed by a fall in market heavyweight Reliance Industries (RIL) and financial stocks.
The S&P BSE Sensex crashed 651.85 points (1.08 per cent) to end at 59,646.15 while the Nifty 50 slumped 198.05 points (1.10 per cent) to settle at 17,758.45. Both the indices had opened on a flat note with some positive bias earlier in the day but they soon declined during the late morning deals and remained in the red throughout the session. During the intraday trade, the Sensex hit a low of 59,474.57 and the Nifty touched 17,710.75.
Only three stocks out of 30 Sensex constituents ended in the green. IndusInd Bank, Bajaj twins – Bajaj Finserv and Bajaj Finance, Tata Steel, State Bank of India (SBI), Maruti Suzuki India, RIL, NTPC, Hindustan Unilever (HUL) and Mahindra & Mahindra (M&M) were the top losers on Friday. Only Larsen & Toubro (L&T), Infosys and Tata Consultancy Services (TCS) managed to end in the positive territory.
Among sectors, the Nifty Bank index fell 1.69 per cent, Nifty Financial Services declined 1.58 per cent and the Nifty Auto cracked 1.41 per cent.
In the broader market, the S&P BSE MidCap fell 320.94 points (1.27 per cent) to end at 24,965.57 and the S&P BSE SmallCap declined 263.19 points (0.93 per cent) to settle at 28,175.38. The volatility index on NSE, India VIX surged 5.38 per cent to 18.2850.
“Profit booking amid weak global cues impacted domestic indices as concerns about interest rate hikes hung over the markets. Additionally, the recent rally of the dollar index and FIIs turning net sellers has surprised bulls. Broad-based selling was witnessed with the index heavyweights dragging the index further down,” said Vinod Nair, Head of Research at Geojit Financial Services.
Global Markets (from Reuters)
European stock indexes fell on Friday after German producer prices saw their biggest rise on record, while the dollar hit a one-month high as investors stayed cautious.
Asian stocks had struggled to find direction, with concerns about the health of China’s economy weighing on sentiment, and by 0820 GMT, the MSCI world equity index, which tracks shares in 47 countries, was down 0.3 per cent on the day.
Europe’s STOXX 600 was down 0.4 per cent on the day, on track for a 0.4 per cent weekly decline too.
