Key benchmark indices opened lower on Friday, tracking losses across global markets on renewed fears of more rate hikes
Read More: Vodafone Idea expects to close external equity funding in December Quarter
Sensex Today: Key benchmark indices opened lower on Friday, tracking losses across global markets on renewed fears of more rate hikes, which prompted a selloff in bonds too. The BSE Sensex fell 230 points to 64,915 and the NSE Nifty50 slipped 72 points to 19,292.
IT pocket led losses on the Sensex with HCL Tech, TCS, Wipro, Tech M and Infosys falling up to 1.2 per cent. HDFC Life and SBI Life were the additional losers on Nifty.
On the flip side, NTPC, L&T, HUL, Airtel, Sun Pharma, Dr Reddy;s, Adani Ports, Divi’s were among the few frontline gainers.
The broader markets outperformed with the BSE MidCap and SmallCap indices rising up to 0.3 per cent vs a similar cut in the Sensex.
Read More: Concord Biotech IPO listing tomorrow: Check latest GMP, key details
Global Cues
Asian markets were trying to find a firmer footing on Friday after a rough week, hammered by concerns about China’s ailing economy and fears of U.S. rates staying higher for longer as long-term bond yields surged.MSCI’s broadest index of Asia-Pacific shares outside Japan were up 0.1% after hitting a nine-month low the session before. It was, however, headed for a weekly loss of 2.8%, the third straight week of declines.
Tokyo shares opened lower Friday following losses on Wall Street, as US Treasury bond yields rose further from multi-year highs.The benchmark Nikkei 225 index fell 0.96 percent, or 303.66 points, to 31,322.34, while the broader Topix index slipped 0.84 percent, or 18.91 points, to 2,234.15.
Read More: IRCTC shares delivered multibagger returns in three years; time to book profit?
Wall Street’s main indexes closed lower after choppy trading on Thursday as losses in healthcare stocks eclipsed gains in Cisco and energy stocks, while upbeat economic data kept alive fears of interest rates remaining higher for longer.
