Sensex Closes 463 Points Lower, Nifty Holds 10,300: 10 Things To Know

Top laggards on the 50-scrip index Nifty were Indiabulls Housing Finance, Yes Bank, Reliance Industries, HCL Tech and HDFC - closing between 4.2 per cent and 16.4 per cent lower.
Overall breadth of the markets was sharply negative, with 531 stocks closing higher on the NSE against 1,214 decliners. On the BSE, 879 stocks advanced while 1,712 fell.
Heavyweight Reliance Industries closed 4.4 per cent lower, after the company's record performance in the July-September period failed to please investors. Concerns of its heavy debt and delay in the company's key refining project hurt the stock, while its gross refining margin fell. (Also read: Reliance Industries posts 17% rise in Q2 profit)
Non-banking finance companies continued to face selling pressure. Other than Indiabulls Housing Finance, which fell 16.4 per cent, Dewan Housing Finance and IL&FS Engineering & Construction fell 11 per cent and 4.8 per cent respectively.
The RBI on Friday announced more steps to increase liquidity flows to the non-banking financial companies. The central bank permitted banks to use government securities equal to their incremental outstanding credit to NBFCs, over and above their outstanding credit to them as on October 19, to be used to meet liquidity coverage ratio requirements.
Analysts say sentiment in the NBFC sector is down. "Minor concessions by the RBI are not helping prices as market participants worry about the next default or delay and its repercussions on the already fragile mood," news agency Reuters cited Deepak Jasani, head of retail research at HDFC Securities, as saying.
Cues from other Asian markets were mixed with early losses were erased as China shares rebounded in afternoon trade after government statements sought to bolster market confidence. MSCI's broadest index of Asia-Pacific shares outside Japan was up less than 0.1 per cent after earlier falling as much as 0.9 per cent ahead of the China GDP reading. China's economic growth in the third quarter slowed to 6.5 per cent, its weakest pace since 2009 and below expectations.
The European Commission late on Thursday told Rome in a letter that planned government spending was too high and that its structural deficit would rise instead of fall, and that the country's public debt would not fall in line with EU rules. Italian stocks tumbled nearly 1.2 per cent, while its bank stocks in particular fell almost 3 per cent. While it isn't unusual for the EU to ask member countries for clarification on points of their budget plans, the sending of a formal letter and the tone of the comments were particularly strong, say analysts.
Meanwhile, net sales of equities by domestic institutional investors (DIIs) stood at Rs 343.11 crore on Wednesday, while foreign portfolio investors (FPIs) net purchased shares worth Rs 140.02 crore, provisional data showed.
The Sensex and Nifty declined 417 points and 168 points for the holiday-shortened week, which translates to a 1.2 per cent and 1.6 per cent fall for the indices respectively. The markets had remained shut on Thursday for Dussehra.

Top laggards on the 50-scrip index Nifty were Indiabulls Housing Finance, Yes Bank, Reliance Industries, HCL Tech and HDFC - closing between 4.2 per cent and 16.4 per cent lower.
Overall breadth of the markets was sharply negative, with 531 stocks closing higher on the NSE against 1,214 decliners. On the BSE, 879 stocks advanced while 1,712 fell.
Heavyweight Reliance Industries closed 4.4 per cent lower, after the company's record performance in the July-September period failed to please investors. Concerns of its heavy debt and delay in the company's key refining project hurt the stock, while its gross refining margin fell. (Also read: Reliance Industries posts 17% rise in Q2 profit)
Non-banking finance companies continued to face selling pressure. Other than Indiabulls Housing Finance, which fell 16.4 per cent, Dewan Housing Finance and IL&FS Engineering & Construction fell 11 per cent and 4.8 per cent respectively.
The RBI on Friday announced more steps to increase liquidity flows to the non-banking financial companies. The central bank permitted banks to use government securities equal to their incremental outstanding credit to NBFCs, over and above their outstanding credit to them as on October 19, to be used to meet liquidity coverage ratio requirements.
Analysts say sentiment in the NBFC sector is down. "Minor concessions by the RBI are not helping prices as market participants worry about the next default or delay and its repercussions on the already fragile mood," news agency Reuters cited Deepak Jasani, head of retail research at HDFC Securities, as saying.
Cues from other Asian markets were mixed with early losses were erased as China shares rebounded in afternoon trade after government statements sought to bolster market confidence. MSCI's broadest index of Asia-Pacific shares outside Japan was up less than 0.1 per cent after earlier falling as much as 0.9 per cent ahead of the China GDP reading. China's economic growth in the third quarter slowed to 6.5 per cent, its weakest pace since 2009 and below expectations.
The European Commission late on Thursday told Rome in a letter that planned government spending was too high and that its structural deficit would rise instead of fall, and that the country's public debt would not fall in line with EU rules. Italian stocks tumbled nearly 1.2 per cent, while its bank stocks in particular fell almost 3 per cent. While it isn't unusual for the EU to ask member countries for clarification on points of their budget plans, the sending of a formal letter and the tone of the comments were particularly strong, say analysts.
Meanwhile, net sales of equities by domestic institutional investors (DIIs) stood at Rs 343.11 crore on Wednesday, while foreign portfolio investors (FPIs) net purchased shares worth Rs 140.02 crore, provisional data showed.
The Sensex and Nifty declined 417 points and 168 points for the holiday-shortened week, which translates to a 1.2 per cent and 1.6 per cent fall for the indices respectively. The markets had remained shut on Thursday for Dussehra.