The Sensex and the Nifty were subdued on Friday amid declines in broader Asia triggered by a worsening global growth outlook, while Kotak Mahindra Bank Ltd sank to a three-week low after reports of a stake sale by ING Group.<\/p>\n\n\n\n
Kotak Mahindra Bank shares posted their worst intraday fall since Dec. 10, giving up nearly 5 percent.Shares in broader Asia slipped on Friday as a deteriorating global economic outlook outweighed further signs of progress in trade talks between China and the United States.<\/p>\n\n\n\n
Market participants shrugged off the dovish comments from the Indian central bank.Most of the six-member monetary policy committee of the Reserve Bank of India were in favour of spurring growth in Asia\u2019s third-largest economy amid a soft inflation outlook on a sustained fall in food prices, the minutes of the February monetary policy meeting released on Thursday showed.<\/p>\n\n\n\n
The Nifty was flat with a negative bias at 10,785.40 as of 0620 GMT, while the Sensex was down 0.1 percent at 35,863.45.The two-day rally was just a pull-back and now the downtrend is back. It is more of a stock-specific movement on Friday as there are no fixed triggers now, said A.K. Prabhakar, head of research, IDBI Capital in Mumbai.<\/p>\n\n\n\n
Financials accounted for half the losses on the NSE index due to a plunge in Kotak Mahindra shares, while energy shares also lost some momentum.Reliance Industries Ltd was among the top laggards on the index, declining as much as 1.5 percent.<\/p>\n\n\n\n
Bucking the broader trend, shares of Anil Ambani-owned Reliance group companies rose, with Reliance Communications Ltd surging as much as 20.5 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Sensex and the Nifty were subdued on Friday amid declines in broader Asia triggered by a worsening global growth outlook, while Kotak Mahindra Bank Ltd sank to a three-week low after reports of a stake sale by ING Group. Kotak Mahindra Bank shares posted their worst intraday fall since Dec. 10, giving up nearly […]<\/p>\n","protected":false},"author":1,"featured_media":55656,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-55655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/55655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=55655"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/55655\/revisions"}],"predecessor-version":[{"id":55657,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/55655\/revisions\/55657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/55656"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=55655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=55655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=55655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}