Market tanks over growth worries
Mumbai: The Sensex tanked over 300 points, as investors turned cautious before the release of the GDP growth numbers on Fri-day post-market hours.
Benchmark indices Sensex and Nifty fell from record highs as investors scrambled to book profits in recent high-flying stocks amid fears that India's second quarter GDP numbers may slip further.
The Sensex plunged 336.36 points or 0.82 per cent to close at 40,793.81. The index swung about 466 points during the day. Likewise, the broader NSE Nifty also settled 95.10 points, or 0.78 per cent, down at 12,056.05.
Weak cues from global markets also weighed on the market mood, analysts said.
On a weekly basis, the Sensex advanced 434.40 points, or 1.07 per cent. while the Nifty rose 141.65 pointsm or 1.18 per cent.
Investor sentiment during the week was mainly driven by positive news about US-China trade talks progress—which took a disturbing turn on Thursday—and more government measures to boost consumer demand.