INSUBCONTINENT EXCLUSIVE:
Mumbai: Indian stocks nosedived on Friday, with benchmark indices sliding about 2 per cent each, on concerns that the global economy led by
regional outperformer, ceded ground on Friday after the latest interest rate increase by the US Federal Reserve late Wednesday underscored
the likelihood of liquidity tightening in major financial hubs across the world.
The Sensex tumbled 689.60 points, or 1.9 per cent, to close
at 35,742.07 while Nifty slumped 197.70 points, or 1.8 per cent, to end at10,754
The MidCap index on the BSE lost 1.8 per cent and the SmallCap index ended down 1 per cent
Reliance Industries, Infosys, TCS, and HDFC Bank led the decliners
A Balasubramanian, chief executive officer, Aditya Birla Sun Life AMC
measures ahead of pollsMarket participants are concerned that more such populist measures may be announced ahead of the 2019 general
Provisional data showed that foreign portfolio investors net bought Indian shares worth Rs 134 crore while domestic institutional investors
net sold shares worth Rs 488.55 crore.
Shares of Adani Ports and Special Economic Zone, Wipro, Maruti Suzuki India, Infosys and TCS lost 3-4
per cent each, and were among the worst performers on the Sensex
NTPC and Coal India were the only two gainers, ending with marginal advances.
Elsewhere in Asia, markets in Japan, China and Singapore ended
decline led to the benchmark indices slumping on a weekly basis as well
Factors such as declining oil prices, recapitalisation of state-run banks, and liquidity boosting measures by the central bank were
elections in the three key majorly rural states and food deflation for two consecutive months have heightened the possibility of an
