Share Market Live: Indian stock markets (Sensex and Nifty) closed lower on Friday facing a knee-jerk reaction in the intraday deals with Sensex closing 280 points lower and Nifty slipping below 11,150 while Yes Bank (down 28%) and DHFL (down 42%) ended in deep red.
Share Market Live: Indian stock markets (Sensex and Nifty) closed lower on Friday facing a knee-jerk reaction in the intraday deals with Sensex closing 280 points lower and Nifty slipping below 11,150. During the day, a market-wide sell-off was seen in stocks with the benchmark Sensex plummetting 1,128 points and Nifty tripping below 10,900. Shares of Yes Bank, collapsed 34% intraday, settled down 29% while DHFL shares ended down 42% after nosediving 60% intraday.
Stock markets witnessed a sudden sell-off in the afternoon dealings on Friday with Sensex crashing 1,128 points and Nifty falling well below 11,000-mark while DHFL nosedived 60% following the rout in NBFCs and housing finance companies. DHFL share price saw the biggest intraday plunge in its stock market trading history on Friday. Most of the housing finance companies bottomed to their respective multi-year lows in the trades. Shares of Yes Bank, Maruti Suzuki, HDFC, Infosys and Sun Pharma were the biggest negative point contributors to the headline indices.
As much as 2,106 companies ended in negative territory, 586 stocks surged at the closing, 148 finished unchanged out of the total 2,840 scrips traded on BSE. Amid the NSE Nifty 50 components, shares of Indiabulls Housing Finance, UPL were the biggest losers apart from Yes Bank.
This Indian financing firm has missed some payments on short-term debt, which raises some broader systemic concerns about India's credit market. t.co/Rtk1a68HX4
— Lisa Abramowicz (@lisaabramowicz1) September 21, 2018