Snapping its eight-day winning streak, the BSE benchmark Sensex tumbled over 222 points Friday as investors scrambled to book profits after the recent rally while ratings agency Fitch slashed India's growth forecast.

Lacklustre global cues and a depreciating rupee also weighed on the markets, analysts said.

The 30-share index opened on a positive note at 38,452.47, but soon succumbed to heavy selling pressure, touching an intra-day low of 38,089.36. It finally closed at 38,164.61, down by 222.14 points, or 0.58 per cent.

On similar lines, the NSE Nifty shed 64.15 points, or 0.56 per cent, to finish at 11,456.90.

On a weekly basis, the Sensex added over 140 points, while the wider Nifty gained 30 points.

Fitch Ratings Friday cut India's GDP growth forecast for the next fiscal to 6.8 per cent from 7 per cent estimated earlier on weaker than expected economic momentum.

In its latest Global Economic Outlook, Fitch also slashed GDP growth forecast for current fiscal ending March 2019 to 6.9 per cent from 7.2 per cent projected in the December edition.

Tata Motors was the biggest loser in the Sensex pack, tumbling 2.47 per cent, followed by Reliance Industries (2.44 per cent), Maruti (1.84 per cent), SBI (1.76 per cent) and Bajaj Finance (1.23 per cent).

NTPC emerged as the biggest gainer in the index, spurting 3.67 per cent. Other winners included L&amp;T, Asian Paints, Tata Steel and PowerGrid, rising up to 1.54 per cent.

Snapping its eight-day winning streak, the BSE benchmark Sensex tumbled over 222 points Friday as investors scrambled to book profits after the recent rally while ratings agency Fitch slashed India's growth forecast.

Snapping its eight-day winning streak, the BSE benchmark Sensex tumbled over 222 points Friday as investors scrambled to book profits after the recent rally while ratings agency Fitch slashed India's growth forecast. Lacklustre global cues and a depreciating rupee also weighed on the markets, analysts said. The 30-share index opened on a positive note at 38,452.47, but soon succumbed to heavy selling pressure, touching an intra-day low of 38,089.36. It finally closed at 38,164.61, down by 222.14 points, or 0.58 per cent. On similar lines, the NSE Nifty shed 64.15 points, or 0.56 per cent, to finish at 11,456.90. On a weekly basis, the Sensex added over 140 points, while the wider Nifty gained 30 points. Fitch Ratings Friday cut India's GDP growth forecast for the next fiscal to 6.8 per cent from 7 per cent estimated earlier on weaker than expected economic momentum. In its latest Global Economic Outlook, Fitch also slashed GDP growth forecast for current fiscal ending March 2019 to 6.9 per cent from 7.2 per cent projected in the December edition. Tata Motors was the biggest loser in the Sensex pack, tumbling 2.47 per cent, followed by Reliance Industries (2.44 per cent), Maruti (1.84 per cent), SBI (1.76 per cent) and Bajaj Finance (1.23 per cent). NTPC emerged as the biggest gainer in the index, spurting 3.67 per cent. Other winners included L&T, Asian Paints, Tata Steel and PowerGrid, rising up to 1.54 per cent.

Sensex snaps 8-day winning run on profit-booking; logs weekly gain

The domestic equity market took a breather on Tuesday after a five-day rising spree as investors booked profits in metal, financials and auto counters, amid weak cues from international markets after IMF lowered its global growth projections for 2019 and 2020.

The 30-share BSE Sensex dropped 134.32 points to end at 36,444.64, while the broader NSE Nifty finished 39.10 points lower at 10,922.75.

Participants were seen taking money off the table after the recent rally, even as the wider sentiment remained positive, underpinned by better-than-expected Q3 earnings by several bluechips.

The BSE Sensex, after resuming higher at 36,649.92, advanced to 36,650.47 on buying by domestic institutional investors (DIIs) as well as retail participants.

However, the market quickly slipped into the negative zone as investors chose to lock in gains in recent outperformers, dragging down the key benchmark to a low of 36,282.93 before ending at 36,444.64 down 134.32 points, or 0.37 per cent.

The gauge had rallied over 725 points in the previous five sessions.

Likewise, the 50-stock NSE barometer Nifty finished 39.10 points, or 0.36 per cent, down at 10,922.75 after hitting the day's high of 10,949.80 and a low of 10,864.15.

Brokers said investors turned cautious and preferred to log profits in recent gainers, dragging down key indices.

"The market tracked other Asian markets following IMF's weak forecasts of global growth prospects," said Paras Bothra, President, Equity Research, Ashika Group.

"While India's economic forecasts were retained, concerns were raised over the difficulties in containing the fiscal deficit. Continued weakness in the rupee favoured IT and Pharma stocks while the majority of other sectors were under pressure," he added.

The IMF lowered its global growth projections for 2019 and 2020 to 3.5 per cent and 3.6 per cent respectively, citing a slowdown in several advanced economies around the world more rapidly than previously anticipated.

Meanwhile, India is projected to grow at 7.5 per cent in 2019 and 7.7 per cent in 2020, an impressive over one percentage point ahead of China's estimated growth of 6.2 per cent in these two years, the IMF said Monday, attributing the pick up to the lower oil prices and a slower pace of monetary tightening.

The International Monetary Fund in its January World Economy Outlook update on Monday said India would remain the fastest growing major economies of the world.

Foreign portfolio investors (FPIs) continued their selling activity on domestic bourses here. They sold shares worth a net Rs 299.79 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 520.80 crore Monday, provisional data showed.

The domestic equity market took a breather on Tuesday after a five-day rising spree as investors booked profits in metal, financials and auto counters, amid weak cues from international markets after IMF lowered its global growth projections for 2019 and 2020.

The domestic equity market took a breather on Tuesday after a five-day rising spree as investors booked profits in metal, financials and auto counters, amid weak cues from international markets after IMF lowered its global growth projections for 2019 and 2020. The 30-share BSE Sensex dropped 134.32 points to end at 36,444.64, while the broader NSE Nifty finished 39.10 points lower at 10,922.75. Participants were seen taking money off the table after the recent rally, even as the wider sentiment remained positive, underpinned by better-than-expected Q3 earnings by several bluechips. The BSE Sensex, after resuming higher at 36,649.92, advanced to 36,650.47 on buying by domestic institutional investors (DIIs) as well as retail participants. However, the market quickly slipped into the negative zone as investors chose to lock in gains in recent outperformers, dragging down the key benchmark to a low of 36,282.93 before ending at 36,444.64 down 134.32 points, or 0.37 per cent. The gauge had rallied over 725 points in the previous five sessions. Likewise, the 50-stock NSE barometer Nifty finished 39.10 points, or 0.36 per cent, down at 10,922.75 after hitting the day's high of 10,949.80 and a low of 10,864.15. Brokers said investors turned cautious and preferred to log profits in recent gainers, dragging down key indices. "The market tracked other Asian markets following IMF's weak forecasts of global growth prospects," said Paras Bothra, President, Equity Research, Ashika Group. "While India's economic forecasts were retained, concerns were raised over the difficulties in containing the fiscal deficit. Continued weakness in the rupee favoured IT and Pharma stocks while the majority of other sectors were under pressure," he added. The IMF lowered its global growth projections for 2019 and 2020 to 3.5 per cent and 3.6 per cent respectively, citing a slowdown in several advanced economies around the world more rapidly than previously anticipated. Meanwhile, India is projected to grow at 7.5 per cent in 2019 and 7.7 per cent in 2020, an impressive over one percentage point ahead of China's estimated growth of 6.2 per cent in these two years, the IMF said Monday, attributing the pick up to the lower oil prices and a slower pace of monetary tightening. The International Monetary Fund in its January World Economy Outlook update on Monday said India would remain the fastest growing major economies of the world. Foreign portfolio investors (FPIs) continued their selling activity on domestic bourses here. They sold shares worth a net Rs 299.79 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 520.80 crore Monday, provisional data showed.

Sensex snaps 5-day winning streak on weak global cues and profit-booking, falls 134 points to close at 36,445

Breaking its five-day winning streak, the benchmark BSE Sensex fell 141 points in early trade Tuesday, as banking, IT, realty and FMCG stocks retreated, tracking sell-off in global market.

The 30-share index dropped 140.51 points, or 0.40 per cent, to 36,129.56 points in opening trade. The gauge had rallied over 1,310 points in the previous five sessions.

The NSE Nifty too fell 47.50 points, or 0.44 per cent, to 10,840.85. 
Among sectoral indices, IT fell the most 1.19 per cent, followed by tech 1.08 per cent, on account of appreciating domestic currency.

Meanwhile, FMCG, healthcare, banking and consumer durables also fell by up to 0.35 per cent as profit-taking emerged on these counters.

Brokers said, the decline in benchmark indices was on account of a weak trend in Asian markets amid sharp losses at the Wall Street, as investors continued to fear to weaken global growth. Besides, profit-booking in recent gainers also dampened investor sentiment here.

Infosys emerged as the worst performer in the Sensex pack, falling 1.67 per cent, followed by Wipro at 1.49 per cent on weakening dollar against the rupee.

Other laggards include Yes Bank, HDFC Ltd, ICICI Bank, HUL, IndusInd Bank, Adani Ports, TCS, ONGC, ITC Ltd, Axis Bank, HDFC Bank, Maruti Suzuki, SBI, RIL, Coal India and Asian Paint, falling up to 0.88 per cent. 
However, Tata Motors, M&amp;M, Bajaj Auto, Sun Pharma, L&amp;T, Hero MotoCorp, PowerGrid and Bharti Airtel, defied the broader market sentiment and were trading higher by up to 1.12 per cent.

Stocks of state-run oil marketing companies such HPCL, BPCL and IOC were trading higher up to 1.16 per cent on the back of easing crude oil prices in global market.

According to provisional data, domestic institutional investors sold shares worth a net of Rs 76.84 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 60.95 crore Monday.

Elsewhere in Asia, Japan's Nikkei shed 1.23 per cent. Hong Kong's Hang Seng dropped 1.01 per cent, Shanghai Composite Index fell 1.09 per cent and Korea's KOSPI fell 0.39 per cent.

The US Dow Jones Industrial Average ended 2.11 per cent down Monday.

Breaking its five-day winning streak, the benchmark BSE Sensex fell 141 points in early trade Tuesday, as banking, IT, realty and FMCG stocks retreated, tracking sell-off in global market.

Breaking its five-day winning streak, the benchmark BSE Sensex fell 141 points in early trade Tuesday, as banking, IT, realty and FMCG stocks retreated, tracking sell-off in global market. The 30-share index dropped 140.51 points, or 0.40 per cent, to 36,129.56 points in opening trade. The gauge had rallied over 1,310 points in the previous five sessions. The NSE Nifty too fell 47.50 points, or 0.44 per cent, to 10,840.85. Among sectoral indices, IT fell the most 1.19 per cent, followed by tech 1.08 per cent, on account of appreciating domestic currency. Meanwhile, FMCG, healthcare, banking and consumer durables also fell by up to 0.35 per cent as profit-taking emerged on these counters. Brokers said, the decline in benchmark indices was on account of a weak trend in Asian markets amid sharp losses at the Wall Street, as investors continued to fear to weaken global growth. Besides, profit-booking in recent gainers also dampened investor sentiment here. Infosys emerged as the worst performer in the Sensex pack, falling 1.67 per cent, followed by Wipro at 1.49 per cent on weakening dollar against the rupee. Other laggards include Yes Bank, HDFC Ltd, ICICI Bank, HUL, IndusInd Bank, Adani Ports, TCS, ONGC, ITC Ltd, Axis Bank, HDFC Bank, Maruti Suzuki, SBI, RIL, Coal India and Asian Paint, falling up to 0.88 per cent. However, Tata Motors, M&M, Bajaj Auto, Sun Pharma, L&T, Hero MotoCorp, PowerGrid and Bharti Airtel, defied the broader market sentiment and were trading higher by up to 1.12 per cent. Stocks of state-run oil marketing companies such HPCL, BPCL and IOC were trading higher up to 1.16 per cent on the back of easing crude oil prices in global market. According to provisional data, domestic institutional investors sold shares worth a net of Rs 76.84 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 60.95 crore Monday. Elsewhere in Asia, Japan's Nikkei shed 1.23 per cent. Hong Kong's Hang Seng dropped 1.01 per cent, Shanghai Composite Index fell 1.09 per cent and Korea's KOSPI fell 0.39 per cent. The US Dow Jones Industrial Average ended 2.11 per cent down Monday.

Sensex drops 141 points on global sell-off, profit-booking

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Sensex snaps 8-day winning run on profit-booking; logs weekly gain

Sensex snaps 5-day winning streak on weak global cues and profit-booking, falls 134 points to close at 36,445

Sensex drops 141 points on global sell-off, profit-booking