Sensex, Nifty Extend Losses For Second Day On Recession Worries
(RTTNews) - Indian shares fell for a second day running on Friday, as the dollar edged higher on recession worries and oil prices continued to climb on hopes for fuel demand recovery in China on eve of the Lunar New Year holidays.
Risk appetite also remained weak due to softer quarterly earnings and talk of layoffs at Microsoft and other big tech companies.
The benchmark S&P BSE Sensex ended the session down 236.66 points, or 0.39 percent, at 60,621.77 amid a volatile session. The broader NSE Nifty index slipped 80.20 points, or 0.44 percent, to close at 18,027.65.
Metal, FMCG and financial stocks led losses, with JSW Steel, Nestle India, Bajaj Finance, Asian Paints and Hindustan Unilever tumbling 2-4 percent. PSU stocks were in favor, with Power Grid Corp and Coal India rising more than 1 percent each.
The rupee traded higher in the afternoon, while oil was set to post a second straight week of gains after data showed Chinese November oil demand climbed to the highest level since February.
TSX Ends Weak As Communications, Tech Stocks Decline
Dollar Rises Against Major Counterparts
Swiss Market Ends On Weak Note After Choppy Session
U.S. Dollar Jumps After Jobs Data
European Stocks Close Lower After Cautious Session
Canadian Market Modestly Lower After Jobs Data
U.S. Wholesale Inventories Decrease In Line With Estimates In December
