Share Market Today: Indian stock markets (Sensex and Nifty) ended mildly lower on Friday ahead of India’s Q1 GDP data release with Sensex falling 45 points and Nifty managing to finish in green following the negative global cues. The plunge in heavyweight stocks of RIL (down 2.6%) and Yes Bank (down 5.11%) wiped out about 142.54 points out of BSE Sensex. The rupee traded in a range of between 70.85 and 71, after touching a record low at 71.0013 against US dollar in the early session today.
Indian shares recoiled sharply within minutes of opening flat on Friday with Sensex gaining 148 points and Nifty reclaiming 11,700-level as Infosys shares surged 2% but failed to sustained the gains. Shares of Welspun India, Hatsun, HDIL, CCL and Jai Corp were the major gainers rising up to 9% while stocks of Vakrangee, Yes Bank, Kirloskar Engineering, Kwality and Aegis Logistics were the top losers falling 3.5-8.2% among the ‘A’ group of BSE.
Indian share markets opened flat on Friday with BSE Sensex and NSE Nifty starting little changed while the Indian rupee breached 70 per unit US dollar mark for the first time ever in history. The rupee tumbled as much as 26 paise vs USD to hit an all-time low of 70.0013, the Bloomberg data showed. The domestic markets traded under pressure on Friday following the fresh worries of another trade tariffs battle between US and China.
The market participants will be keenly watching the first quarter GDP data which is likely to be released after stock market trading hours at around 5:30 pm today. Asian shares came under renewed pressure on Friday as a report US President Donald Trump was preparing to step up a trade war with Beijing sent Chinese stocks lower and partially erased gains made in this week’s global rally, Reuters reported.