India markets closed

Market Highlights: Sensex, Nifty end lower for second consecutive day, Vodafone Idea tumbles 22%, Airtel top gainer

FE Online
Share Market Today, Share Market Live

Share Market Highlights: Domestic equity market benchmarks Sensex and Nifty extended the losses and finished half a per cent lower for the second day on BSE on Friday dragged down by HDFC Bank, ITC, SBI, IndusInd Bank and Axis Bank. S&P BSE Sensex ended 209 points or 0.50 per cent lower at 41,250, while the broader Nifty 50 index finished at 12,113 points, down 61 points or 0.50 per cent. As many as 22 stocks out of 30 Sensex stocks ended in red today. IndusInd Bank was the top loser with a 4.24 per cent decline, followed by Power Grid, NTPC, Hero MotoCorp and M&M. Conversely, Bharti Airtel was the top Sensex gainer with a growth of 4.71 per cent. HCL Tech, RIL, ICICI Bank and Tech Mahindra were among the top gainers on the index. All the nifty sectoral indices ended lower, with PSU Bank Index down 2 per cent weighed by weakness in J&K Bank, Indian Bank, UCO Bank and SBI. Nifty Bank, auto, FMCG, metal and realty were down over a per cent. In the broader markets, S&P BSE Midcap index fell 0.88 per cent to 15,647.89, while S&P BSE Smallcap index settled 0.46 per cent lower at 14,673 points.

Vodafone Idea shares tumbled 22.32 per cent to Rs 3.48 per cent apiece on BSE after Supreme Court AGR order on modification pleas filed by telecom companies. The Supreme Court on Friday rejected the modification pleas filed by the telcos seeking new schedule of AGR payments.

S&P on Thursday affirmed India's rating at BBB-/A-3 while keeping the outlook stable, global news agency Reuters reported. The global rating agency also said that India's structural growth outperformance remains intact. "India's stable outlook reflects the view that India's growth will stabilize and begin to recover from its current low ebb," S&P said. The rating agency, however, pointed out that India's fiscal position remains precarious, with elevated fiscal deficits and net government indebtedness.