Sensex Snaps Eight-Day Winning Streak Led By Declines In RIL, HDFC Bank
- The S&P BSE Sensex declined 222.14 points or 0.58 per cent to close at 38,164.61 and the NSE Nifty 50 Index fell 0.56 per cent or 64.15 points to settle at 11,456.90.
- The rupee appreciated to as much as 68.53 against the dollar on Friday. Continued foreign fund inflows supported the rupee in the forex markets, say analysts.
- Fourteen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Energy Index's 2 per cent decline. Oil & Gas, Telecom, Auto and Banking indexes on the BSE also dropped between 0.75 and 1.42 per cent each.
- On the flipside, S&P BSE Power Index was top gainer, up 0.85 per cent. Realty and Utilities indexes also rose 0.70 and 0.50 per cent respectively.
- Mid- and small-cap shares also faced selling pressure as the S&P BSE MidCap Index fell 0.59 per cent and the S&P BSE SmallCap Index dropped 0.44 per cent.
- From the Nifty 50 basket of shares, 31 ended lower while 19 closed higher on the BSE.
- Bharat Petroleum, Bharti Infratel, Tata Motors, Hindustan Petroleum, Indian Oil, Reliance Industries, Zee Entertainment and State Bank of India were among losers in the Nifty 50 basket of shares.
- On the other hand, NTPC, Larsen & Toubro, Asian Paints, JSW Steel, Infosys, Coal India and Tata Steel were among gainers in the Nifty 50 basket of shares.
- Among the individual shares, SpiceJet surged 7 per cent to Rs 98.10 on the BSE. The company said on Friday it was in talks with lessors globally to induct aircraft, in an effort to fill a gap after the grounding of its MAX fleet.
- Meanwhile, Fitch Ratings on Friday cut India's GDP growth forecast for the next fiscal year to 6.8 per cent from 7 per cent estimated earlier on weaker than expected economic momentum. In its latest Global Economic Outlook, Fitch also slashed GDP growth forecast for current fiscal year ending March 2019 to 6.9 per cent from 7.2 per cent projected in the December edition.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
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Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
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India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
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When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
