Stock Market News - Sensex drops nearly 500 points, Nifty50 tests 10,300; RIL tanks 5%
Benchmark indices took a beating on Friday morning on global selloff, thanks to concerns over the slowing of global economy. Concerns over likely Fed rate hikes and Italy's expansionary budget too weighed in on the sentiment.
Data showed China’s economy grew 6.5 per cent in September quarter. The growth came in lower than the consensus estimate of 6.6 per cent. This along with a slump in US stocks in overnight trade hurt the domestic sentiment.
the BSE Sensex was trading 263 points, or 0.76 per cent, lower at 34,516. The index had fallen nearly 500 points in opening trade. Nifty50 was ruling at 10,374.90, down 78.15 points, or 0.75 per cent. The index hit a low of 10,304.60 in early trade.
Shares of Reliance Industries declined 5.68 per cent to Rs 1,083.60. The company on Wednesday reported a 17.35 per cent year-on-year rise in net profit for the September quarter at Rs 9,516 crore, below estimate of Rs 9,629 crore projected by analysts in an ET Now poll.
YES Bank, Infosys, TCS and Hero MotoCorp declined 3.95 epr cent, 2.98 epr cent, 1.83 per cent and 1.59 per cent, respectively.
Sun Pharma bucked the weak trend. The stock rose 1.73 per cent to Rs 603.70. Asian Paints, Tata Steel, NTPC aqnd Adani Ports added 1.07 per cent, 0.74 per cent, 0.72 per cent and 0.63 per cent, respectively.
In overnight trade , the Dow Jones Industrial Average index tanked 1.27 per cent, the S&P500 index declined 1.44 per cent and the Nasdaq Composite index dropped 2.06 per cent on Thursday.
Best Commodity Daily Market News, Click Here Watch More News- Ripples Advisory, 2 Days Free Trial or See Stock Cash Services. Focus on all moments - big and small'
0 comments