The domestic stock market indices ended Friday’s session lower, down over 1 per cent, triggered by an across-the-board sell-off that saw all the Nifty sectoral indices ending the session in the red.
The BSE Sensex, which seemed well on course to reach the 50,000 mark, fell over 500 points during the day.
Sensex closed at 49,034.67, lower by 549.49 points, or 1.11 per cent, from its previous close of 49,584.16. It had opened at 49,656.71 and recorded an intra-day high of 49,656.71 and a low of 48,795.79 points.
The Nifty50 on the National Stock Exchange closed at 14,433.70, lower by 161.90 points, or 1.11 per cent, from its previous close.
Global markets
Prospects of tighter lockdowns in Germany and France as well as new Covid-19 restrictions in China cut into optimism about a global economic recovery. The pan-European STOXX 600 index fell 0.5 per cent.
The German DAX was down 0.5 per cent and France’s CAC 40 fell 0.6 per cent. UK’s FTSE 100 also declined 0.6 per cent despite data showing that Britain’s economy recorded a smaller-than-expected contraction in November.
Meanwhile, Asian stocks had initially firmed on Thursday on a report that the stimulus package could be as big as $2 trillion, much more than markets were expecting. However, shares later erased gains with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.59 per cent.
Chinese blue-chips shed 0.97 per cent amid worries over rising COVID-19 cases in China, and after the Chinese central bank drained liquidity from the country’s banking system, suggesting a tightening bias in monetary policy.
(With inputs from Reuters)
Source: Thanks WIONews.com