INSUBCONTINENT EXCLUSIVE:
Losses in banking, auto, metal and consumer goods stocks pulled the markets lower
Domestic stock markets
snapped a two-day record-breaking run on Friday amid weakness in Asian peers, ahead of the release of key macroeconomic data
The S-P BSE Sensex index fell as much as 349.56 points to hit 40,780.61 on the downside in late-morning deals, and the broader NSE Nifty
benchmark declined to as low as 12,055.90, down 95.25 points from the previous close
A selloff across most sectors - led by banking, auto and metal stocks - pulled the markets lower
At 11:02 am, the Sensex traded 307.05 points - or 0.75 per cent - lower at 40,823.12, while the Nifty was down 77.45 points - or
Hindalco, Dr Reddy's, HUL, Asian Paints and Tata Steel, down between 1.53 per cent and 2.25 per cent each.HDFC, Reliance Industries and HDFC
Bank were the top drags on the Sensex, together accounting for a more than 130-point fall in the index.On the other hand, Bharti Infratel,
Adani Ports, Yes Bank, NTPC and Bharti Airtel - trading between 1.21 per cent and 9.84 per cent higher - were top percentage gainers on the
Nifty.The government will release GDP data for the quarter ended September 30 at 5:30 pm.Economists in a poll conducted by news agency
Reuters expect the economy to register a growth of 4.7 per cent in the quarter.If that prediction comes true, it would mark the slowest pace
of economic expansion since March 2013.In recent months, the government has taken a slew of measures to revive growth and spur consumer
demand, including a reduction in corporate taxes, the setup of a real estate fund and a mega merger of state-run banks.On Thursday, the S-P
BSE Sensex index had risen 109.56 points (0.27 per cent) to end at a record closing high of 41,130.17, and the broader NSE Nifty benchmark
settled at a record 12,151.15, up 50.45 points (0.42 per cent) from the previous close.
