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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.
Sensex, Nifty Set For Muted Start
Japanese Market Modestly Lower
Australian Market Notably Higher
Canadian Dollar Rises As Inflation Climbs
Swiss Market Ends Modestly Higher
European Stocks Recover After Weak Start, Close Broadly Higher
TSX Extends Gains To 10th Straight Session, Hits New Record High
