For the second day in succession, domestic indices continued their losing streak on Friday led by heavyweights Infosys, Reliance and banking stocks. The 30-share pack Sensex fell 412.96 points to close at 59,934.01, while its broader peer Nifty 50 ended at 17,900.
In the 30-share pack, Tech Mahindra was the biggest lower as it fell 3.13 per cent to close at Rs 1082.45. Infosys came down 2.91 per cent while Tata Steel and Bajaj Finserv fell 1.92 per cent and 1.89 per cent respectively. In the downfall, they were followed by Axis Bank, IndusInd Bank, UltraTech Cement and Titan.
Among the stocks which went up were Maruti Suzuki as it registered a rise of 3.28 per cent to Rs 9249.90, Power Grid up by 2.15 per cent, followed by NTPC 1.98 per cent and HDFC 0.28 per cent.
Among the sectors, Nifty Media index fell 2.18 per cent and Nifty IT came down 1.43 per cent while Nifty Auto rose 0.71 per cent. Nifty Midcap went up 0.43 per cent and Smallcap50 fell 0.19 per cent.
Traders exercised extreme caution as Fitch Ratings put out India’s GDP growth projection for FY23 to 7 per cent while maintaining that the economy is expected to slow down in the wake of declining Global economy, elevated inflation and high interest rates, said Market experts.
The Analysts were of the view that that the weakness also prevailed in the Markets as India’s Merchandise trade deficit in August widened to $27.98 billion from $11.71 billion a year earlier.
