Sensex drops 191 pts Nifty ends near 17000 level
Mumbai Dec 24 PTI The BSE benchmark Sensex tumbled 191 points on Friday tracking losses in index-heavyweights HDFC twins Kotak Bank and Axis Bank amid mixed cues from global markets After a choppy session the 30-share index ended 19097 points or 033 per cent lower at 5712431 Similarly the NSE Nifty declined 6885 points or 040 per cent to 1700375 NTPC was the top loser in the Sensex pack shedding around 3 per cent followed by MM Axis Bank PowerGrid Kotak Bank Dr Reddys Bajaj Finserv and HDFC On the other hand HCL Tech Tech Mahindra Asian Paints Wipro and Infosys were among the gainers A range-bound day of trading ahead of Christmas ended the week as this month quite clearly belonged to the IT sector which stood tall amidst extreme volatility as cost-push inflation across sectors is keeping street worried on the impact in the hands of the consumer said S Ranganathan Head of Research at LKP Securities While buoyancy in exports and tax collections coupled with the success of the PLI schemes are positives there are many sectors where consolidation is waiting to happen which is where longer term investors need to focus on in the present corrective phase he noted Elsewhere in Asia bourses in Hong Kong and Seoul ended with gains while Shanghai and Tokyo were in the red Stock exchanges in Europe were trading on a positive note in mid-session deals Meanwhile international oil benchmark Brent crude dipped 010 per cent to USD 7652 per barrel PTI ANS ABM ABM
Mumbai Dec 24 PTI The BSE benchmark Sensex tumbled 191 points on Friday tracking losses in index-heavyweights HDFC twins Kotak Bank and Axis Bank amid mixed cues from global markets After a choppy session the 30-share index ended 19097 points or 033 per cent lower at 5712431 Similarly the NSE Nifty declined 6885 points or 040 per cent to 1700375 NTPC was the top loser in the Sensex pack shedding around 3 per cent followed by MM Axis Bank PowerGrid Kotak Bank Dr Reddys Bajaj Finserv and HDFC On the other hand HCL Tech Tech Mahindra Asian Paints Wipro and Infosys were among the gainers A range-bound day of trading ahead of Christmas ended the week as this month quite clearly belonged to the IT sector which stood tall amidst extreme volatility as cost-push inflation across sectors is keeping street worried on the impact in the hands of the consumer said S Ranganathan Head of Research at LKP Securities While buoyancy in exports and tax collections coupled with the success of the PLI schemes are positives there are many sectors where consolidation is waiting to happen which is where longer term investors need to focus on in the present corrective phase he noted Elsewhere in Asia bourses in Hong Kong and Seoul ended with gains while Shanghai and Tokyo were in the red Stock exchanges in Europe were trading on a positive note in mid-session deals Meanwhile international oil benchmark Brent crude dipped 010 per cent to USD 7652 per barrel PTI ANS ABM ABM
