Nifty slips below 9,450-mark; banking stocks drag

Among sectors, banking stocks fell the most, dragging the indices, after surging in the previous 2 sessions, followed by metal and media.

May 29, 2020 09:05 IST India Infoline News Service

National Stock Exchange
Equity benchmark indices begin the June series on the negative note following losses in Asian peers on weak global cues amid rising tensions between the United States and China.

The BSE Sensex was down 269 points to 31,930 and the Nifty50 index fell 96 points to 9,394. India VIX is trading higher by 1.2% at 30.38.

Among sectors, banking stocks fell the most, dragging the indices, after surging in the previous 2 sessions, followed by metal and media.

US President will hold a press conference today; hinting that he is not happy with China. Further, the market participants will keep an eye on India’s Q1 GDP data, scheduled to be released today, along with infrastructure output.

Voltas, Jubilant Life Sciences and Metropolis Healthcare, are scheduled to announce their March quarter results today.

RIL Rights Entitlement is trading lower by 6% on the NSE as its the final trading day.

Asian markets were trading with modest losses on Friday, following sharp pullback seen on Wall Street in the overnight trade. Japan’s Nikkei 225 has suffered the most, followed by Hang Seng and Shanghai Composite.

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