Markets succumb to late sell-off; post weekly loss

July 12, 2019 17:16

Equity benchmarks were caught in a late-session bear grip Friday as trading sentiment remained risk-averse amid global headwinds and uncertainty over the earnings front. Investors were also cautious ahead of the release of key macroeconomic data, traders said.

Building on its positive opening, the 30-share BSE Sensex crossed the 39,000-mark in afternoon trade, but suffered a sudden bout of selling to end at 38,736.23, down by 86.88 points or 0.22 per cent. Similarly, the broader NSE Nifty dropped 30.40 points, or 0.26 per cent, to 11,552.50.

In the post-Budget week, the Sensex lost 777.16 points or 1.96 per cent, while the Nifty dropped 258.65 points or 2.18 per cent. Global equities were trading flat as investors digested a slew of economic data amid heightened geopolitical and trade tensions. -- PTI

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