Mumbai, December 6
Indian equity indices buckled under selling pressure for the second straight day today as slowing growth and lack of buying triggers took a toll on investor sentiment.
Market mood was risk-averse a day after the RBI disappointed on the rate cut front and also projected slower growth for this fiscal, traders said. Additionally, concerns over the fiscal deficit and a weakening rupee weighed on bourses, they added.
After opening on a positive note, the 30-share BSE Sensex witnessed a continuous slide and went on to hit an intra-day low of 40,337.53. The index finally settled at 40,445.15, down 334.44 points.
Likewise, the 50-share Nifty shed 96.90 points to settle at 11,921.50.
On a weekly basis, the Sensex dropped 348.66 points while the Nifty lost 134.55 points.
Yes Bank was the biggest laggard in the Sensex pack on Friday, diving 9.82% after Moody’s Investors Service downgraded the private sector lender’s ratings.
Other top losers were SBI, IndusInd Bank, Tata Motors, Mahindra and Mahindra and HDFC, tumbling up to 4.89%. — PTI
Weakening rupee also to blame
- Market mood was risk-averse a day after the RBI disappointed on the rate cut front and also projected slower growth for this fiscal, traders said
- Additionally, concerns over the fiscal deficit and a weakening rupee weighed on bourses
- On a weekly basis, the Sensex dropped 348.66 points while the Nifty lost 134.55 points
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