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Sensex tumbles 336 points ahead of GDP data

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NSE Nifty also settled 95.10 points down.

Snapping its two-day record-setting streak, market benchmark BSE Sensex tumbled 336 points on Friday as investors turned jittery ahead of GDP data release.

After plummeting 466 points during the session, the 30-share Sensex pared some losses, ending 336.36 points or 0.82% lower at 40,793.81.

The broader NSE Nifty also settled 95.10 points or 0.78% down at 12,056.05.

Yes Bank was the top loser in the Sensex pack, shedding 2.50%, followed by HUL that fell 2.37%, M&M 2.12%, SBI 2.03%, Tata Motors 2.03% and Vedanta 1.97%.

On the other hand, Bharti Airtel, HDFC Bank and NTPC ended with gains.

Investors turned cautious ahead of Q2 gross domestic product (GDP) growth numbers, scheduled to be released later in the day, traders said.

Experts are of the view that GDP growth for Q2 is expected to be lower than the 5% in Q1.

Weak cues from global markets also weighed on market mood, they added.

Bourses in Hong Kong, Tokyo, Kospi and Seoul ended in the red as US law supporting pro-democracy protesters in Hong Kong put a dampener on hopes of an early trade truce over tariffs.

Stocks in Europe were trading on a positive note.

On the currency front, the rupee depreciated 17 paise (intra-day) against the US dollar to 71.79.

Brent crude, the global oil benchmark, fell 0.79% to USD 62.77 per barrel in futures trade.

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Printable version | Dec 7, 2019 1:52:59 AM | https://www.thehindu.com/business/markets/sensex-tumbles-336-points-ahead-of-gdp-data/article30115932.ece

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