Domestic markets exhibited a negative trend in Friday’s intra-day trade as global sentiments turned negative amid rate hike concerns. Banking and realty shares bore the brunt of the selling.
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Domestic markets exhibited a negative trend in Friday’s intra-day trade as global sentiments turned negative amid rate hike concerns. Banking and realty shares bore the brunt of the selling.
Key indices Nifty50 declined over 50 points to trade below 18,000 levels, whereas the S&P BSE Sensex dropped over 250 points to trade around 61,048 levels.
Broader markets, too, fell in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.4 per cent. Volatility gauge, India VIX, meanwhile, rose 1 per cent.
Barring Nifty Media index, which held marginal gains in a bearish market, all other sectors plunged in the sea of red. Nifty IT, Nifty Pharma, and Nifty PSU Bank indices declined the most, up to 0.7 per cent.
Among individual stocks, shares of Ipca Laboratories slipped 5 per cent to hit a 52-week low of Rs 818.25 as brokerages reduced their FY24/FY25E earnings per share (EPS) estimates for the company post its weak December quarter results. READ MORE
Besides, shares of RPP Infra Projects soared over 9 per cent after the company secured a new order worth Rs 59.92 crore.
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