Profit booking in bank stocks, BoJ pull markets down

The rupee firmed up further by 2 paise to settle at 67.02 a dollar as banks and exporters continued to sell the US currency.

By: ENS Economic Bureau | Mumbai | Published: July 30, 2016 4:05 am
Sensex, Nifty, Indian markets, Indian markets open in green, BSE, NSE, market indices, Market news, Business news The Bombay Stock Exchange. (File Photo)

Led by bank stocks, domestic stock markets on Friday fell by 0.89 per cent amidst profit-booking in banking and financial stocks and weak global cues in the wake of Bank of Japan’s smaller-than-expected stimulus plan.

After opening higher, the 30-share Sensex stayed in the negative zone for the most part of the session and touched a low of 28,037.87. The index finally settled 156.76 points or 0.56 per cent down at 28,051.86. The 50-share NSE Nifty ended 27.80 points or 0.32 per cent down at 8,638.50.

The rupee firmed up further by 2 paise to settle at 67.02 a dollar as banks and exporters continued to sell the US currency.

ICICI Bank plunged 3.40 per cent to Rs 262.85 ahead of its quarterly result. PNB fell by 4.30 per cent. Bank of Baroda was down 1.42 per cent.

The BoJ disappointed the markets by keeping interest rates and government bond buying unchanged, at a time when many analysts were expecting the central bank to be bold with economy boosting measures. Asian indices in China, Hong Kong, Singapore, South Korea and Taiwan fell by up to 1.71 per cent.

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