Barring Bharti Airtel and Sun Pharma, all the 29 stocks were trading in the deep sea of red. IndusInd Bank shares plunged over 6 per cent
Following a mammoth plunge on Wall Street, BSE Sensex and Nifty 50 tumbled over per cent in Friday’s trade. Index heavyweights HDFC Bank, HDFC, ICICI Bank, Infosys, Reliance Industries and Kotak Mahindra Bank contributed the most to the indices’ losses today. Among key events today, investors are eyeing on GST council meeting, IIP for April, CPI inflation for May. “The markets opened with a gap down and have made a low of 9545 after which it has bounced. What needs to be seen is if the level of 9640 is breached again. If that happens, we should witness more downside pressure which could take the Nifty down to 9450. For any upside to get activated, we need to cross 9850,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
IndusInd Bank share plunges 6%: Barring Bharti Airtel and Sun Pharma, all the 29 stocks were trading in the deep sea of red. IndusInd Bank shares plunged over 6 per cent. ONGC, Kotak Mahindra Bank, NTPC, Axis Bank, ICICI Bank, Reliance Industries (RIL) and State Bank of India (SBI), were other losers on the pack.
Nifty Bank, Nifty Financial Services down 3.5%: All 11 Nifty sectoral indices were trading in the negative territory. Nifty Bank, Nifty PSU Bank, Nifty Private Bank and Nifty Financial Services were top sectoral losers, all down over 3 per cent.
Corporate earnings today: Hindalco Industries, Mahindra & Mahindra, Goodyear India, Castrol India, Eicher Motors, IOL Chemicals, Pudumjee Paper Products, Suprajit Engineering and Alkali Metals are among 30 companies which are scheduled to announce their March quarter earnings today.
FII and DII data: On Thursday, foreign institutional investors (FIIs) and domestic institutional investors (DIIs) sold shares worth Rs 805.14 crore and Rs 874.35 crore on a net basis, according to the provisional data available on the NSE.
Global market: In overnight trade on Wall Street, S&P 500 was placed on the track for its worst day in nearly three months. The Dow was down 1,512 points, or 5.6%, to 25,477. The Nasdaq composite, which was coming off an all-time high, slid 4%.S&P 500 lost 188.04 points, or 5.89%, to 3,002.1