The domestic stock market ended over 1 per cent lower on Friday amid selling in financial counters ahead of the Supreme Court’s decision on adjusted gross revenue (AGR) issue. Further, weak global cues such as lacklustre Chinese economic data and confusion over US fiscal stimulus, too, weighed on investor sentiment.
The S&P BSE Sensex today shed 433 points or 1.13 per cent to settle at 37,877 levels. HDFC Bank, ITC, ICICI Bank, Axis Bank, and Reliance Industries (RIL) were the major contributors to the index’s loss. NSE’s Nifty ended at 11,178, down 122 points or 1.08 per cent.
Global shares dipped on Friday after lacklustre Chinese economic data and worries about a delay in US fiscal stimulus discouraged some investors from taking on risk. European shares were also dragged lower by a hit to travel stocks after Britain added more European countries to its quarantine list. The pan-European STOXX 600 was down 0.7 per cent, although on track to gain for a second straight week.
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