Indian benchmark indices plunged on Friday even as the government data on Thursday showed that the Gross Domestic Product growth has risen to 6.3% in the second quarter. The BSE Sensex closed at 32,832.94 points – 316 points down – while the NSE Nifty slumped more than a 100 points to end at 10,121.80.
The markets sentiment was also dampened after the data showed that India’s fiscal deficit for the financial year 2017-’18 reached 96.1% of the budget estimate at the end of October, lifted by an increase in expenditure.
The biggest gainers on the Sensex were Kotak Mahindra, NTPC and Maruti Suzuki India, while the top losers were Adani Ports, Bajaj Auto, Bharti Airtel, Sun Pharma and SBI. Meanwhile, on Nifty50, Ambuja Cement, Kotak Bank, Infratel, NTPC and Maruti were the top gainers. However, the stocks of Tech Mahindra, Indiabulls Housing Finance, Adani Ports and Vedanta Limited fell sharply on the 50-share index.
Among the BSE sectoral indices, infrastructure and metal fell by 1.11%, followed by oil and gas (-0.98%) and realty (-0.97%).
Among major Asian markets, Japan’s Nikkei 225 and the Taiwan TSEC 50 Index closed higher. China’s Shanghai index ended flat, and the Hong Kong Hang Seng closed 103 points lower.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!