Markets extend loss, Index witness Biggest weekly falls

Stock markets registered 8th consecutive day declines in a highly volatile trade on the week ended Friday, 10-May, with Nifty ended below 11,300.

Stocks floated higher in early trade on positive Asian stocks and trimmed gains later in mid-morning trade with high Volatility. Soon after falling, the indices again extended gains and sharply pared gains in first afternoon trade and fresh selling pulled the market to day’s low in negative territory.

At closing hours, the Sensex was down 95.92pts at 37,463, while Nifty was down 22.90-pts at 11,278.90. The BSE Sensex closed 3.9pc lower this week and Nifty met 3,7% weekly falls.

Zee Ent, SBI, Titan, Bharti Airtel and Indiabulls Housing were major losers on the Nifty while losers include Tata Steel, HCL Technologies, Yes Bank, IndusInd Bank and Indian Oil corp.

Among sectors, Nifty PSU Bank, Nifty bank, financial service and media witnessed some buying while selling pressure emerged in Metal, pharma, IT, energy, Auto and FMCG Mid-cap and small-cap index ended with marginal gains.

Shares of SBI gained 2.54% at Rs306.90 per share after the lender today reported Q4 net profit at Rs.838.4-cr V/s loss of Rs.7718-Cr in a year ago period.

Shares of Canara Bank rose 3pc at Rs264.65-per share after the bank reported loss at Rs.551-crore against profit of Rs.4859.8-cr in the matching quarter year ago.

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