Indian shares ended lower on Friday, tracking weakness in global markets amid concerns that the spread of the Delta coronavirus variant and an early tapering in economic support could delay the global economic recovery.
Concerns over China’s regulations for its once-freewheeling internet sector also spooked investors.
A rout in Chinese technology giants deepened today after Chinese authorities passed a major data protection law, along the lines of Europe’s Global Data Protection Regulation, making it harder and costlier for tech firms in China to access and use consumer information.
The benchmark 30-share BSE Sensex ended the session down 300.17 points, or 0.54 percent, at 55,329.32, while the broader NSE Nifty index dropped 118.35 points, or 0.71 percent, to settle at 16,450.50.
Hindalco, JSW Steel and Tata Steel slumped 6-9 percent after a sharp plunge in iron ore futures across the world.
Tata Motors lost 4 percent even as S&P Global Ratings placed the ratings on select Tata Group firms on CreditWatch with positive implications.
Vedanta lost nearly 10 percent after the company clarified on buzz related to Madras High Court notice for Tuticorin unit.
FMCG companies caught investors’ attention, with Nestle India, Britannia Industries and Hindustan Unilever climbing 3-5 percent on defensive buying.
Market Analysis
Sensex Ends 300 Pts Lower; Nifty Ends At 16,450
2021-08-20 10:53:31
