Despite Wall Street ending in green on Thursday, uncertainty over the pace of interest rate hikes kept Asian and European traders on their toes on Friday. Indian stocks lost more than a per cent but other Asian stocks had mostly a flat day. Europe also lost ground in the morning trade.
Sensex ends below 59,600, and Nifty around 17,750, ceding more than a per cent.
Indian benchmark indices snapped the green run on Friday and lost more than a percentage. Sensex slipped below the psychological mark of 60,000 and ended the week at 59,646, down 651 points. Nifty slipped almost 200 points to close at 17,758.
Almost all indices ended in red with Pharma, Health Sector, Realty and Autos leading the race to the bottom. IT index though ended flat.
Adani Ports shined on an otherwise depressing day and surged more than 4%. L&T, Infosys and TCS also ended in the green.
On the red side, IndusInd Bank slipped 4%. Bajaj Twins, SBI Bank and Tata Steel also featured among of stocks that sank today.
Other markets in Asia also remained cautious. Chinese stocks had a mixed day on Friday as concerns over rising COVID-19 cases and a sluggish economic recovery lingered. However, real estate shined on expectations that authorities would support the sector.
Shanghai Composite Index closed the day 0.6% down, while Hang Seng closed flat with a gain of around 0.05%.
Tokyo’s benchmark Nikkei index closed nearly flat on Friday, with…
