Markets extend losses for fourth day as profit-booking takes maintain; Nifty slumps below 15ok level – Business News , Firstpost

The 30-share BSE Sensex ended 434.93 factors or 0.85 % decrease at 50,889.76, pressured by sturdy promoting in banking and auto counters

Representational picture. PTI

Mumbai: The Sensex tumbled 435 factors whereas the Nifty slumped below the 15,000-mark on Friday as markets buckled underneath promoting strain for the fourth session on the trot amid a lacklustre development in international markets.

The 30-share BSE Sensex ended 434.93 factors or 0.85 % decrease at 50,889.76, pressured by sturdy promoting in banking and auto counters.

Similarly, the broader NSE Nifty gave up the 15,000 level, dropping 137.20 factors or 0.91 % to 14,981.75.

A day after topping the Sensex gainer’s chart, ONGC emerged as the largest laggard in Friday’s session, tumbling 5.06 %. It was adopted by SBI, Axis Bank, ICICI Bank, Bajaj Auto, Maruti and M&M, which shed as much as 3.77 %. On the opposite hand, IndusInd Bank, HUL, Dr Reddy’s, NTPC, Reliance Industries and Bajaj Finserv had been among the many gainers, climbing as much as 1.97 %.

During the week, the Sensex declined 654.54 factors or 1.26 %, and Nifty fell 181.55 factors or 1.19 %.

“The Nifty-50 and BSE Sensex declined by 1.2 percent this week as market mood became cautious on rising global and local bond yields. The broader markets that is NSE Mid Cap 100 Index and BSE Small Cap Index are both in the green this week. The US 10 Year Bond yields have risen from below 1 per cent to 1.29 per cent, building in economic impact of the USD 1.9 trillion stimulus package,” stated Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities.

“In India too the 10-year bond yields have moved up from the recent low of 5.76 percent to 6.13 percent, which could mainly be linked to the higher fiscal deficit estimates… Almost 37 stocks from Nifty-50 lost ground this week with Pharma and select consumers having lost the most,” Oza added.

Sectorally, BSE auto, steel, bankex, healthcare and finance indices misplaced as a lot as 2.59 %, whereas the power index was the only real gainer.

Broader BSE midcap and smallcap indices fell as much as 1.67 %.

Global markets had been blended amid weak macroeconomic knowledge from the US and Europe, casting a cloud over expectations of a swift financial restoration. Elsewhere in Asia, markets in Tokyo ended on a adverse be aware, whereas Shanghai, Hong Kong and Seoul closed with positive aspects.

Stock exchanges in Europe had been additionally buying and selling within the optimistic terrain in mid-session offers. Meanwhile, the worldwide oil benchmark Brent crude slipped 1.24 % to $63.14 per barrel. Domestic forex markets had been closed on Friday on account of Chhatrapati Shivaji Maharaj Jayanti.

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