EQUITIEs TANKs, RUPEe WEAKENs...!!!
@ALLIESFIN
A sea of red took over Dalal Street on Thursday, as bears tighten their grip amid selloff in majority of sectors along with weak cues from global markets. Both the larger peers ended lower with the losses of more than 1.50%. After a sluggish start, the markets remained under pressure throughout the day, as Fitch Ratings revised downwards India’s GDP growth forecast to 7.2% for current fiscal citing higher financing cost and reduced credit availability. In its Global Economic Outlook, Fitch also projected that for 2019-
20 and 2020-21 financial years, India’s GDP growth will be 7% and 7.1% respectively.
The rating agency has also forecasted Indian rupee to weaken to 75 to a dollar by end of 2019. On the global front, European markets were trading in red, as Eurozone's private sector growth was the lowest in more than two years during November, led by Germany, though the pace of slowdown was less than what was estimated initially.
BSE Sector: Losers: Energy, Realty, Auto, Telecom, CDGS, Teck, Oil & Gas, IT, FMCG, Basic Materials, Industrials, Finance, Consumer Durables, Bankex, Healthcare, Capital Goods, Metal, Utilities, Power.
T.ME/ALLIESFIN
BEATINg tHe STREEt (Nifty): Gainers were Sun Pharma, JSW Steel.
ExPECTATIOn BELIEd (Nifty): Losers were IullHsg, Maruti, TechM, BajajFinserv, TataMtrs, Grasim, HCLTech, AdaniPorts, YesBk, Airtel, RIL, IOC, UltraTechCement, Asian Paints, Kotak Mah, Eicher Moto, HUL, Cipla, BajajFin, ONGC, AxisBk, IndusIndBk, Coal India, Zee Ent, Infosys.
By: via @AlliesFin Serve T.ME/ALLiESFiN
