Markets in Red, Sensex Slumps 281 Points to 32088, Nifty at 10021

BSE Sensex and NSE Nifty open lower on Friday

Pharma stocks for a second day in row were performing better, being the only sectoral index to be in green. "This was the largest fall for both the indices on an intra-day and overall closing basis since November 11, 2016", Deepak Jasani, Head - Retail Research, HDFC Securities told IANS. It had lost 53.72 points in the previous three days.

The BSE Sensex on Friday plunged 447.60 points as the government's reported plan for Rs 40,000-50,000 crore stimulus spending to revive the slowing economy raised concerns over the fiscal deficit. "With FIIs continuing to be net sellers, investors are fretting on the impact on fiscal deficit targets if the government were to go overdrive with economic revival plans", said Anand James, Chief Market Strategist, Geojit Financial Services Ltd. At 9.52 am, Sensex was down 225.96 points on 32,144.08 and Nifty was trading at 10,037.80, down 84.10 points.

Fall in rupee to a four-month low on heavy capital outflows over expectations of rate hike by the US Federal Reserve came as a dampener to the market sentiment.

Weak Asian cues after China's sovereign rating was downgraded by agency on fears over its ballooning debt and sustained foreign fund outflows, too negatively impacted market sentiment.

Major Sensex losers were: Tata Steel, down 4.70 per cent at Rs 654.55; Larsen and Toubro, down 3.49 per cent at Rs 1,184.90; Reliance Industries, down 2.83 per cent at Rs 817.50; ICICI Bank, down 2.77 per cent at Rs 277.10; and Hero MotoCorp, down 2.59 per cent at Rs 3,788.15.

SC elections were not targeted by Russian hackers
No breach occurred, Minnesota Secretary of State Steve Simon said in a news release. "It's not a breach, it's not a penetration". The Department of Homeland Security confirmed it had notified the 21 states but declined to identify them Friday.

In terms of the broader markets, the S&P BSE mid-cap index tanked by 2.71 per cent and the small-cap index by 2.93 per cent.

"The rupee fell sharply today to breach the 65-mark against the USA dollar but recovered later".

According to the provisional data, FPIs offloaded equities worth Rs 1,241.73 crore.

The rupee fell 31 paise to 65.12 against the dollar, its lowest level since May 23 in early trade at forex market, said a PTI report on Friday.

Barring HealthCare sectors which managed to stay positive, Selling was led by Realty, Metal, IPO, Consumer Durables, PSUs, Power, Banks, Oil&Gas, FMCG, Auto, Teck and IT sectors.

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