Domestic stock markets, extended falls today to end the session at a seven-month low. Bombay Stock Exchange (BSE) benchmark index Sensex closed 340.78 points or 1.01 per cent lower at 33,349.31.
This is its lowest closing after April 4when it had finished at 33,019.07. The wider Nifty50 index of the National Stock Exchange (NSE) shed 94.90 points or 0.94 per cent to settle at 10,030.00.
This is its weakest closing after March 23, when the gauge had ended at 9998.05points. Most of the sectoral indices, led by banks, IT and FMCG closed in the negative zone.
Know about stock markets trading today:
1) Top laggards on the 50-scrip index Nifty were Yes Bank (-8.65 per cent), JSW Steel (-5.35 per cent), Axis Bank (-4.51 per cent), HCL Tech (-3.77 per cent) and Grasim (-3.59 per cent).
2) Twenty three out of 30 Sensex stocks closed the session in the red.
3) Prominent losers in the 30-share Sensex pack were Yes Bank (-8.97 per cent), Axis Bank (-4.04 per cent), Induslnd Bank (-3.14 per cent), TCS (-2.86 per cent), Kotak Bank (-2.76 per cent) and ONGC (-2.47 per cent). Heavyweights Infosys, TCS and ITC contributed most to the losses.
4) The key indices ended on a lower note as November derivatives series began on a subdued note amid weakness in the rupee and negative leads from global markets, analysts said.
5) Disappointing quarterly earnings from Maruti Suzuki, Yes Bank and a few others accelerated the selling momentum, they added.
6) In terms of stock-specific action, IT giants Infosys Ltd and Tata Consultancy Services Ltd (TCS) were among the top drags on Friday. Infosys closed 2.43 per cent down on the Bombay Stock Exchange (BSE), while TCS slipped 2.86 per cent on BSE.
7) Private-sector lender Yes Bank Ltd was the top percentage loser, plunging as much as 15 per cent intraday to a four-week low after its quarterly profit missed estimates. The lender closed 8.97 per cent down on BSE.
8) JSW Steel fell to a two-month low after brokerages cut target prices, citing concerns over debt and margins. It closed 4.50 per cent down on BSE.
9) On a weekly basis, both key indices Sensex and Nifty recorded their second straight week of losses by falling 966.32 points, or about 3 per cent, and 273.55 points, or 2.7 per cent, respectively, as reported .
10) Meanwhile, foreign funds sold shares worth Rs. 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs. 339.60 crore on Thursday, provisional data showed.>