Sensex slips 260 points; financials dip as RBI extends loan moratorium


The domestic equity market ended in the negative territory on Friday after the Reserve Bank of India (RBI) decided to cut the policy rate by 40 basis points from 4.4 per cent to 4 per cent to trim the impact of coronavirus on the economy. That apart, the central bank also extended the moratorium on loan repayments by three more months, resulting in sell-off in financial stocks.

Nifty Bank today tumbled nearly over 2.5 per cent to 17,279 levels while Nifty Private Bank declined around 3 per cent to 9,421.55 points, with 8 out of 10 constituents ending in the red.

The benchmark S&P BSE Sensex shed 260 points or 0.84 per cent to settle at 30,672.59. HDFC, HDFC Bank, ICICI Bank, and Axis Bank contributed the most to the Sensex’s fall. On the other hand, IT majors, Infosys and TCS, supported the index.

NSE’s Nifty ended at 9,039, down 67 points or 0.74 per cent.

Continue Reading


Sectoral Watch – Most discussed Commodity Chemical Stocks











 

Source: https://stockarchitect.com/sector/Commodity-Chemicals


Sensex drops 690 points on Friday, Nifty ends below 10,800; RIL falls 3%


After opening marginally lower, the domestic equity market saw a sharp decline in the trade on Friday as investors booked profit across-the-board. The S&P BSE Sensex was trading nearly 600 points lower, slipping below the 36,000 mark in late noon deals, while NSE’s Nifty50 slipped below the crucial 10,800 level, down over 150 points.

IOC, UPL, Adani Ports, Maruti Suzuki and Indiabulls Housing were top losers among Nifty50 stocks, which fell 3.5-4.5 percent.

HPCL, BPCL, Coal India and NTPC were only gainers, up 1-2 percent.

About two shares declined for every share rising on the BSE.

Continue Reading