NEW DELHI: Markets on Friday extended its losses as both the BSE and NSE indices finished the week in red. The benchmark BSE Sensex cracked 301 issues or 0.86 in keeping with cent to end at 34,848, while the wider NSE Nifty misplaced 86 issues or 0.81 in keeping with cent to close at 10,596.
Rising world oil costs and the uncertainty over formation of the federal government in Karnataka performed an important function to tug the markets additional. This is the fourth straight decline for the 30-share Sensex.
Hindustan Unilever, Kotak Mahindra Bank, IndusInd Bank and ITC were a few of the primary loser on the BSE with their shares dropping up to 2.22 in keeping with cent.
The NSE Bank Index fell up to 0.8 in keeping with cent, extending its drop into a 3rd consultation.
“It will be an earnings-driven market going ahead,” said Teena Virmani, vice chairman, Kotak Securities.
“Given the upward thrust in oil costs and higher yields, valuation multiples don't seem to be going to develop sharply any more, so markets will rely on income revival.”
(With inputs from Reuters)
Rising world oil costs and the uncertainty over formation of the federal government in Karnataka performed an important function to tug the markets additional. This is the fourth straight decline for the 30-share Sensex.
Hindustan Unilever, Kotak Mahindra Bank, IndusInd Bank and ITC were a few of the primary loser on the BSE with their shares dropping up to 2.22 in keeping with cent.
The NSE Bank Index fell up to 0.8 in keeping with cent, extending its drop into a 3rd consultation.
“It will be an earnings-driven market going ahead,” said Teena Virmani, vice chairman, Kotak Securities.
“Given the upward thrust in oil costs and higher yields, valuation multiples don't seem to be going to develop sharply any more, so markets will rely on income revival.”
(With inputs from Reuters)
Sensex sheds over 300 points; Nifty below 10,600
![Sensex sheds over 300 points; Nifty below 10,600]()
Reviewed by Kailash
on
May 18, 2018
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