Share Market LIVE: Sensex opens deep in red, Nifty tanks below 14,200; Bank stocks among top drags

This post was originally published on this site

© Provided by The Financial Express SGX Nifty gained on Thursday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets started the day’s trade in the negative. S&P BSE Sensex was down 400 points while the Nifty 50 index tanked below 14,200 on opening, but managed to regain the levels soon. IndusInd Bank, Tech Mahindra and Axis Bank were the top drags. Dr Reddy’s, Sun Pharma, along with HDFC and SBI were among the gainers on the index. Volatility was surging higher while broader markets were in the red. Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma were among the gainers. Bank Nifty fell 1.14%.

As the second wave of the coronavirus pandemic wreaks havoc across the country and disrupts businesses, Care Ratings has revised down its forecast for GDP growth to 10.2 per cent in 2021-22 from an earlier projection of 10.7-10.9 per cent. “We have revised our forecast for GDP growth for FY22 as the underlying conditions have changed rapidly in the last 30 days or so. It stands now at 10.2 per cent,” they said. Earlier, on March 24, 2021, the agency had projected GDP growth between 11-11.2 per cent based on GVA (gross value added) growth of 10.2 per cent. This is the third revision to India’s growth made by Care Ratings in one month. As the virus spreads various states have announced lockdown measures in cities or districts, disrupting economic activity. 

Related Posts