Domestic stock markets, closed lower on Friday. The S&P BSE Sensex declined 97.03 points, or 0.27 per cent, to end at 36,227.14. The NSE’s Nifty50 index dropped 47.10 points or 0.43 per cent to settle at 10,930.45.
The equity indices have been under pressure, with the Nifty 50 index shedding 4.7 percent in the last eight sessions, after concerns over bad debt in non-banking financial companies triggered a broad sell-off, reported.
Twenty out of 30 Sensex stocks finished the session in the red. Prominent losers in the 30-share Sensex pack were Bajaj Auto, Vedanta, Bharti Airtel, Tata Steel, HeroMotoCorp and Yes Bank.
Main laggards on NSE Nifty were Yes Bank (-9.42%), Indiabulls Housing Finance (-9.01%), Hindalco (-6.36%), HeroMotoCorp (-5.66%) and Tata Steel (-5.19%).
Private-sector lender Yes Bank Ltd, down 6 percent, was the top percentage loser on the NSE index.
Among the decliners, e-commerce company Infibeam Avenues Ltd plunged 58.2 per cent to its lowest since Nov. 9, 2016.
“Markets opened positive today buoyed by robust US economic growth and dovish comments by US fed chairman but slipped into the red primarily spooked by liquidity shortfall in money markets. Nifty auto and nifty IT were the key sectors dragging the markets lower” Viral Berawala, CIO, Essel Mutual Fund told .
Investors found little cheer even after the government raised import tariffs on select goods and the central bank announced measures to ease liquidity concerns earlier this week.
Shares of state-run construction company Ircon International Ltd fell as much as 13 percent on its trading debut after a 4.70-billion-rupee ($64.77 million) initial public offering.
On the other hand, major gainers in the Sensex pack were Axis Bank (+2.97%), HDFC (+1.42%), ITC (+1.18%), Wipro (+0.94%) and ONGC (+0.71%). HDFC, HDFC Bank, Wipro, Hindustan Petroleum and SBIN led the pack of Nifty gainers.>