INSUBCONTINENT EXCLUSIVE:
Sensex and Niftyregistered their biggest weekly fall since August 11, 2017.Domestic stock markets nosedived on Friday, before recovering
most of those losses towards the end of the session
During the session, the equity indices plunged 3 per cent amid a sharp selloff across sectors, led by banking and financial services shares
and 4.3 per cent respectively.2
Sudden plunge in shares of non-banking financial companies, especially housing finance companies, witnessed in afternoon trade triggered a
panic selloff, according to analysts
The Nifty Financial Services index fell 1 per cent.4
"Markets corrected as there was fear that NBFCs may face liquidity trouble, fearing that their interest rates may have gone up," BSE and NSE
PNB, Bank of Baroda and and IDFC Bank finished between 3.5 per cent and 7.6 per cent lower.7
fear has started to come into the market
Once strength is gone, it will not recover fast," said AK Prabhakar, head of research at IDBI Capital Markets.9
Meanwhile, foreign portfolio investors (FPIs) remained net sellers and offloaded equities worth Rs 2,184.55 crore while domestic
institutional investors (DIIs) made purchases worth a net Rs 1,201.30 crore on Wednesday, provisional data showed
Markets were closed on Thursday.(With inputs from agencies)
