Stock Market Update: Fear of recession increased concern, Sensex, Nifty closed with decline
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The Sensex index ended at 60,621.77, down 236.66 points, or 0.39 percent, from its previous close, and the Nifty 50 closed at 18,027.65, down 80.20 points, or 0.44 percent, from its previous close.
Worries about a recession grew amid weakness in global markets. Its effect was visible in the business. Both the major indices closed with losses. The Sensex index ended at 60,621.77, down 236.66 points, or 0.39 percent, from its previous close, and the Nifty 50 closed at 18,027.65, down 80.20 points, or 0.44 percent, from its previous close. Equity benchmarks moved lower in early trade on Friday amid a weak trend in the US markets and losses in key index Reliance Industries. Domestic stock markets closed with losses on Friday due to heavy selling in the FMCG, metal and pharma sectors. Talking about sectoral indices, the metal and FMCG indices closed down by about one per cent. BSE Midcap and Smallcap indices closed flat.
Top gainers of NIFTY
On the NSE Nifty, COALINDIA shares closed up 1.36 per cent, POWERGRID 1.18 per cent, HDFCBANK 0.92 per cent, HDFC 0.70 per cent and ITC 0.69 per cent.
There was a break in these stocks on NIFTY
On the NSE Nifty, HINDUNILVR declined by 3.76 per cent, Asianpaint by 2.83 per cent, BAJFINANCE by 2.77 per cent, NESTLEIND by 2.55 per cent and JSWSTEEL by 2.25 per cent.
Indian rupee gains
At the interbank foreign exchange market, the Indian rupee declined by 25 paise to close at 81.12 against the US dollar as against its previous close of 81.24.
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