Sensex dips 150 points; metals, banks drag

Domestic stocks edged lower on Friday tracking weak cues from global peers amid concerns that new lockdowns could derail the economic recovery.

The S&P BSE Sensex hovered at around 36,600 levels, down 150 points. IndusInd Bank (down 2%) was the top Sensex loser, followed by Tech Mahindra and Mahindra & Mahindra (both down over 1%). TCS fluctuated between minor gains and losses after reporting 13.8 per cent YoY decline in its June quarter profits.

Shares of state-owned Punjab National Bank slumped up to 6.7 per cent to Rs 34.6 on the BSE on Friday after the bank said it has reported loan extended to Dewan Housing Finance Ltd (DHFL), worth Rs 3,688.58 crore, as fraud.

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Cases in the world's second-most populous country jumped by 26,506 to 793,802 as of Friday morning, including 21,604 deaths.

(With inputs from agencies)