Sensex, Nifty dip on ahead of Indian GDP number announcement; NALCO, PNB Housing Finance stocks bleed
The stock market of India ended up in the red zone on account of the F&O expiry and the Indian GDP number coming in the evening. The BSE Sensex shed 336 points and closed at 40,793 levels after the Closing Bell while the Nifty-50 index went down 95 points and closed at 12,056 levels. The Bank Nifty index dipped 176 points and closed at 31,946 levels.
Speaking on the current market dip Prakash Pandey, MD & CEO at Plutus Advisors said, "The current dip in the stock market is caused by the F&O expiry and weekend profit booking. Apart from this, the Indian GDP number are coming today evening and that is also a reason for people not leaving their position for Monday."
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Indiabulls Housing Finance share price crashed over 13 per cent in the intraday trade. Shares of Reliance Power, Reliance Infrastructure, Indiabulls Real Estate, Corporation Bank, PNB Housing Finance, Reliance Capital, Ashok Leyland and Yes Bank were among the major losers after the Closing Bell trade session while shares of Adani Transmission, Adani Gas, Bharti Infratel, Lakshmi Vilas Bank, Equitas Holdings, Dewan Housing Finance Limited or DHFL were among the major gainers in the intraday trade session.
Energy stocks led the bloodbath at Dalal Street as the BSE Energy index shed 1.48 per cent in the intraday trade session. Energy major and Sensex heavyweight Reliance Industries Limited or RIL share price crashed 1.84 per cent, Jindal Drilling & Industries shares nosedived 3.48 per cent, Hindustan Petroleum Corporation Ltd or HPCL stocks went down 2.86 per cent while Petronet LNG went southward near 1 per cent.
Among the major Asian market, the Japanese Nikkei 225 index dipped 0.49 per cent, Kospi crashed 1.45 per cent, Hang Seng nosedived over 2 per cent while the Shanghai market went down 0.61 per cent.