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Sensex slips 100 pts ahead of Q2 GDP data, Nifty below 12,150

Analysts are predicting the GDP growth rate to slip as low as 4 per cent.

ETMarkets.com|
Updated: Nov 29, 2019, 09.47 AM IST
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BCCL
BSE-1---BCCL
Sectoral indices were trading mixed on NSE. Media, pharma, realty and PSU banks were in the green while IT, FMCG, auto, and private banks slipped in early trade.
NEW DELHI: Domestic equity market opened with marginal cut on Friday ahead of the release of second quarter GDP data. Worries of increased tensions between the US and China as former backed Hong Kong protest also hit sentiment on Street.

India will publish its September quarter gross domestic product (GDP) data later today. Analysts are expecting another disappointing print, predicting the growth rate to slip as low as 4 per cent.

BSE barometer Sensex was down 107 points to 41,022 while NSE flagship Nifty shed 29.70 points to 12,121. Broader market indices left behind its headline peer and advanced in the early trade. Nifty Midcap was up 0.28 per cent to 17,259 and Nifty Smallcap added 0.45 per cent to 5,786. Nifty 500 slipped 0.09 per cent to 9,860.

bse snip 29
Source: BSE

India VIX, the measure of volatility slipped further on Friday, down 3.14 per cent to 13.54. The index had ended 5 per cent lower on Thursday.

Sectoral indices were trading mixed on NSE. Media, pharma, realty and PSU banks were in the green while IT, FMCG, auto, and private banks slipped in early trade.

Among Sensex stocks, YES Bank gained 4 per cent to Rs 73 after Edelweiss upgraded the stock to ‘buy’ with target at Rs 101. The bank's board will also meet today to mull fund raising.

Bharti Airtel, up 1.56 per cent at Rs 443.50 and Tata Motors, up 0.76 per cent at Rs 166.05 were among other biggest gainers on Sensex.


Globally, shares extended losses in Asia on Friday after Japan and South Korea reported weak manufacturing data that suggest a worsening toll from trade tensions.

The US markets were closed for the Thanksgiving holiday and will have a half-day session on Friday.

Japan's Nikkei 225 index lost 0.1 per cent to 23,409.14, while the Hang Seng in Hong Kong gave up 0.2 per cent to 26,893.73. The Shanghai Composite index shed 0.6 per cent to 1,597.68 but Australia's S&P ASX 200 advanced 0.2 per cent to 6,864.00. South Korea's Kospi slipped 0.4 per cent to 2,118.60.

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