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  1. Sensex, Nifty lose steam after 5-day winning streak; SBI cracks 5%; Vedanta, Tata Motors shares drag

Sensex, Nifty lose steam after 5-day winning streak; SBI cracks 5%; Vedanta, Tata Motors shares drag

Stock market today: The benchmark indices Sensex and Nifty of the domestic equity markets on Friday closed in the negative territory following weak cues from the global markets and heavy sell-off in index heavyweights.

By: | Published: August 10, 2018 3:58 PM
share market live, share market news in hindi, share market latest updates, share market now, share market update today, business news in hindi Stock market today: Sensex, Nifty lose steam after 5-day winning streak; SBI cracks 5%

After a five day record-setting rally, the benchmark indices of the domestic equity markets — Sensex and Nifty — closed in the negative territory on Friday following weak cues from the global markets and heavy sell-off in index heavyweights. The BSE Sensex, which crossed the 38,000 level and settled above that level at a record 38,024.37 points both for the first time on Thursday, closed Friday’s trade lower by 155.14 points or 0.41% lower at 37,869.23 points. The Nifty fell by 41.20 points or 0.36% to settle at 11,429.50 points.

Blue-chip companies SBI, Reliance Industries, ICICI Bank, LT, Sun Pharma, Vedanta and Tata Motors wiped off over 200 points from the Sensex index. Top gainers on The BSE Sensex index included Hero MotoCorp, Mahindra and Mahindra, TCS, ITC, Kotak Bank, Yes  Bank and Adani Ports. Out of 2,857 trading companies on the BSE, 1,676 companies declined as compared with 1,052 advancing companies.

Shares of India’s largest PSU bank State Bank of India cracked over 5% on the domestic bourses, emerging as the top Sensex and Nifty 50 loser, after the bank declared its Q1 FY19 results during market hours on Friday. During the quarter under review, the bank reported a net loss of Rs 4,876 crore. The bank said that higher provisions on account of wage revision and enhancement in gratuity ceiling too weighed on the earnings. The stock tanked as much as 4.85% on the BSE and 5.32% on the NSE.

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