Benchmark indices BSE Sensex and NSE’s Nifty 50 fell over 1% on Friday dragged by Reliance Industries, HDFC and Infosys. Sensex ended 463.95 points down at 34,315.63, while the Nifty 50 closed 149.50 points lower at 10,303.55.
Selloff in stocks of housing finance companies and NBFCs continued, with Indiabulls Housing Finance losing over 16%, despite the Reserve Bank of India announcing more steps to increase credit flow to such companies. RIL shares fell over 4% after muted Q2 results.
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The rupee traded higher against the dollar after Asian markets rebounded. Markets were closed on Thursday due to Dussehra.
Oil prices edged higher on signs of surging demand in China, though headed for a second weekly fall amid trade war concerns and tensions over missing Saudi journalist.
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