Markets fall on macro gloom; Yes Bank shares crash 10%

ROBINSINGH@TRIBUNE.COM

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