Sensex sheds 95 points, Nifty below 10,700, PSU stocks fall
The BSE Sensex closed lower by 95.12 points, or 0.27%, at 35,227.26 after shuttling between 35,438.22 and 35,177.35 on alternate bouts of buying and selling.
Markets saw a price correction on the first session of the new June series derivatives on Friday, with the BSE Sensex losing over 95 points and the NSE Nifty closing below the 10,700-mark.
Weakness in banking stocks offset gains in auto despite robust GDP numbers for the January-March quarter amid sustained foreign fund outflows.
Leads from other Asian markets too were not supportive on renewed global trade war worries.
The 30-share Sensex closed lower by 95.12 points, or 0.27%, at 35,227.26 after shuttling between 35,438.22 and 35,177.35 on alternate bouts of buying and selling.
It had rallied 416.27 points on Thursday, on optimistic buying by participants ahead of GDP numbers.
The NSE Nifty too shed 39.95 points, or 0.37%, to finish at 10,696.20. During the session, it moved between 10,764.75 and 10,681.50.
Markets started on a positive note after data showed that India’s January-March 2018 GDP growth soared to a seven-quarter high of 7.7%, spurred by robust performance of manufacturing, construction and service sectors, helping it retain the tag of the fastest growing major economy.
However, early gains were completely wiped-off after selling emerged in the later part of the session.
Both the Sensex and Nifty, however, registered gains for the week.
The BSE Sensex climbed 302.39 points, or 0.87%, while the NSE Nifty gained 91.05 points, or 0.86%, during this week.
