Indian markets on Friday plunged ahead of the release of the Gross Domestic Product figures for the September quarter. The BSE Sensex dived 336 points to close at 40,793.81, and the National Stock Exchange Nifty fell 95 points to 12,056.05.
On the Nifty, the stocks that rose the most were Bharti Infratel, Adani Ports, Bharti Airtel, HDFC Bank, and National Thermal Power Corporation Limited. The top gainers on the Sensex were Bharti Airtel, HDFC Bank, and NTPC.
Tata Motors Limited-DVR Limited, Yes Bank, Hindustan Unilever Limited, Mahindra and Mahindra Limited, and State Bank of India were among the top losers on the Sensex. The biggest losers in Nifty were Zee Entertainment Enterprises Limited, Yes Bank, Hindustan Unilever Limited, State Bank of India, and Dr Reddys Laboratories Limited.
“Since quarterly results are already out and discounted for September quarter, today’s GDP number may not impact the markets much,” HDFC Securities said, according to Mint. “Earlier resistance of 12,000-mark is now an immediate floor for Nifty. On the higher side resistance is seen in the vicinity of 12,300-12,400.”
All other major Asian indices were also affected amid tensions between the United States and China over Hong Kong. The Shanghai SE Composite Index plunged 17.71 points while the Hong Kong Hang Seng fell 547 points. Japan’s Nikkei 225 closed 115 points below the previous closing, and the Taiwan TSEC 50 Index finished lower by 127.51 points.
The Indian rupee was trading at 71.75 against the US dollar as of 4.18 pm.