Mumbai, Sep 6 (IANS) Indian benchmark indices closed in the deep red on Friday as investors remained jittery ahead of an important US jobs report that could determine the speed and size of US Fed rate cut in the coming days.
At closing, the Sensex was down 1,017 points or 1.24 per cent at 81,183 and Nifty was down 292 points or 1.17 per cent at 24,852.
Due to a sharp fall, the market cap of all listed firms on the Bombay Stock Exchange (BSE) declined by nearly Rs 5.3 lakh crore to Rs 460.04 lakh crore. On Thursday it was Rs 465.3 lakh crore.
In the Sensex pack, SBI, ICICI Bank, NTPC, HCL Tech, Reliance, Tata Motors, ITC, Axis Bank, Infosys, L&T, M&M, Maruti Suzuki, Ultratech Cement and Wipro fell the most.
Bajaj Finance, Asian Paints, JSW Steel and HUL contributed the most. Selling was seen in all sectors.
Auto, PSU banks, fin service, media, energy, private banks, infra, realty and FMCG indices were the top losers.
Nifty midcap 100 index was down 946 points or 1.59 per cent at 58,501 and Nifty smallcap 100 index was down 244 points or 1.25 per cent at 19,276.
Santosh Meena, Head of Research at Swastika Investmart said, “Indian markets witnessed a surprising decline today after consolidating at all-time highs. One key factor could be weaker job data from the US, fueling concerns about a potential global economic slowdown.”
“Additionally, India’s weight in the MSCI Emerging Markets index has surpassed China’s, reaching its highest level. This raises the risk of a strategic reduction in weight allocation, especially given India’s relatively high valuations,” Meena said.
The Foreign Institutional Investors (FIIs) turned net sellers on September 5 as they sold equities worth Rs 688 crore, while domestic institutional investors bought equities worth Rs 2,970 crore on the same day.
–IANS
avs/rad
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
