INSUBCONTINENT EXCLUSIVE:
Mumbai: Share indices ended sharply down on Friday in the absence of fresh triggers after having vaulted to all-time records last week and
the central bank slashing growth estimates
Losses on Friday were led by stateowned banks and auto stocks.
The Sensex and the Nifty ended 0.8 per cent down at 40,445.15 and 11,921.50,
Yes Bank, State Bank of India, IndusInd Bank, Tata Motors, Mahindra - Mahindra, Housing Development Finance Corp and Sun Pharmaceutical
Industries were the biggest laggards on the Sensex, ending down 2-10 per cent.
The broader market saw deeper declines, with the BSE MidCap
index ending down 1.3 per cent and the BSE SmallCap index ending down 0.9 per cent.
Foreign portfolio investors sold Indian shares worth a
net ?868 crore on Friday while domestic institutional investors bought shares worth a net ?211 crore.
The Reserve Bank of India on Thursday
cut the GDP growth forecast for FY20 to 5 per cent from the earlier projection of 6.1 per cent, owing to the slump in demand.
Markets rose
to record highs in the recent rally, driven by sustained foreign flows into emerging markets given the accommodative policy stance by
points and the Nifty hit a record 12,158.80 on November 28
Srivastava, founder, Indiacharts.com
FIIs (foreign institutional investors) have added short positions of about 18,000 contracts since December 3 but they are far less than
August-end when they were net short by 143,000 contracts
