Nifty, Sensex Under Pressure - Weekly Closing Report
After a strong rally of eight days, the market came under pressure on Friday.
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After a strong rally of eight days, the market came under pressure on Friday.
HDFC and HDFC Bank led losses on the Sensex, shlipping 2 per cent each. Wipro, NTPC, Eicher Motors were the other frontline losers.
The manufacturing unit has a potential for future expansion up to a further 20,000 litres of biologics drug substance manufacturing capacity.
Indian markets ended mixed due to global trends and moderation in service PMI data. Sensex ended slightly down while Nifty 50 ended slightly up. Bank Nifty settled lower and India's volatility index surged.
On Wednesday, 1966 stocks advanced, 1527 declined and 133 remained unchanged on the Bombay Stock Exchange (BSE), with an advance decline ratio of 1.29 indicating a positive closing of stocks in broader markets. Due to the recent upswing, the market was in an overbought area, therefore selective profit-taking was anticipated. For a brief period, the domestic market's surge was hampered by global concerns and moderate Service PMI data. Global investors' willingness to take on risk was put to the test by escalating trade tensions between the US and China and the uncertainty surrounding the forthc...