Sensex slumps on Friday morning trade
Around same time, Nifty declined 147.30 points at 8,378.45.
In the morning hours, Sun Pharma, BHEL, SBI and HDFC Bank were top gainers while GAIL, Hero MotoCorp, Asian Paints, ICICI Bank and HDFC were among the losers on Sensex on Friday.
Reports attribute the slide largely to profit booking and weak cues from Asian markets.
Foreign capital outflows ahead of IIP data to be released later in the day also exerted pressure on the market, reported The Hindu.
Markets also fear that the US Federal Reserve could go ahead with a rate hike in December, given signs of stability in the US share markets. Higher interest rate in the US could impact flows from foreign investors into Indian and other emerging markets, reported NDTV.
Image: twitter.com/BSEIndia
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
