homemarket NewsClosing Bell: Sensex ends 289 points lower, Nifty below 11,850; IndusInd Bank, Indiabulls Housing top losers

Closing Bell: Sensex ends 289 points lower, Nifty below 11,850; IndusInd Bank, Indiabulls Housing top losers

Indian benchmark indices ended lower on Friday, tracking weak Asian peers, as investors worried over higher crude prices following geopolitical developments in the Gulf of Oman.

Profile image

By CNBC-TV18 Jun 14, 2019 4:17:29 PM IST (Published)

Listen to the Article(6 Minutes)
Closing Bell: Sensex ends 289 points lower, Nifty below 11,850; IndusInd Bank, Indiabulls Housing top losers
Indian benchmark indices ended lower on Friday, tracking weak Asian peers, as investors worried over higher crude prices following geopolitical developments in the Gulf of Oman.

Share Market Live

View All

Index heavyweights like Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Reliance Industries Ltd and HDFC twins contributed the most to the losses.
Global stocks were under pressure as Chinese data rekindled woes about the health of the global economy and fears of a new US-Iran confrontation intensified. China's May industrial output growth slowed to a more than 17-year low.
The Sensex ended 289 points lower at 39,452, while the broader Nifty50 index lost 91 points to end at 11,823. Broader markets were in-line with the benchmark indices with the Nifty Midcap and the Nifty Smallcap indices falling 1 percent each.
Bharti Infratel, L&T, Sun Pharma, PowerGrid and Adani Ports were among the top gainers on the Nifty50, whereas IndusInd Bank, Zee, Indiabulls Housing, Bharti Airtel and Eicher Motors led the losses.
All sectoral indices ended the day in the red. The Nifty Media index was the worst performing sector, down 2.2 percent followed by the Nifty Realty, down 2.1 percent, the Nifty Pvt Bank, down 1.4 percent and the Nifty FMCG, down 1.3 percent for the day. The Nifty Bank, the Nifty Auto and the Nifty Fin Services also fell around 1 percent for the day.
The Nifty Bank fell over 1 percent dragged by IndusInd Bank, Bank of Baroda, Axis Bank, Kotak Bank and RBL Bank down in the range of 2-4.6 percent.
IndusInd Bank extended yesterday's losses, falling 4.6 percent in trade today after UBS downgraded the stock to 'sell' from 'neutral' and reduced its target price to Rs 1,400 per share from Rs 1,700 earlier.
Gruh Finance lost 5 percent following multiple block deals on stock exchanges. CNBC-TV18 had reported on June 13 that Housing Development Finance Corporation (HDFC) was likely to sell a 4.2 percent stake in the housing finance unit to comply with a requirement by the Reserve Bank of India (RBI) to facilitate the latter’s merger with Bandhan Bank.
Jet Airways stock extended loss to fall 11.6 percent after NSE said shares of the debt-laden airline would be pulled out of daily trading from June 28. The exchange cited Jet's failure to respond to queries about rumours in the market as the reason for the removal.

Most Read

Share Market Live

View All
Top GainersTop Losers
CurrencyCommodities
CurrencyPriceChange%Change