Stock markets slip into negative territory amid weak global cues
- Country:
- India
Stock markets slipped into negative territory on Friday amid weak global cues. Asian markets were trading lower after gloomy scene from the Wall Street amid worries about global economic growth after the European Commission lowered its growth forecasts for the eurozone. At 11:10 am, the BSE Sensex was down 248 points at 36,722 while the Nifty 50 was 74 points lower at 10,994.
Shares of Tata Motors plunged over 18 per cent in the morning trade and were among top Nifty losers after the company reported a net consolidated loss due to asset impairment in Jaguar Land Rover of Rs 27,838 crore. JLR’s announcement of reducing its global workforce by 4,500 people is expected to result in a one-time exceptional redundancy cost of 200 million pounds. Another prominent loser on Indian markets was Eicher Motors which slipped over 2.5 per cent. All sectoral indices traded in the red with most losses in automobiles, metals, banks and infrastructure sectors.
(With inputs from agencies.)
- READ MORE ON:
- European Commission
- Union territory
- Northwest Territory
- Ford Territory
- Jaguar Land Rover
- Jaguar Cars
- Jaguar F-Pace
- Eicher Motors
- HEG Ltd.
- ICICI Bank
- Mumbai Mirror
- Navi Mumbai
- Mumbai Police
- Jai Maharashtra
- Government of Maharashtra
- Maharashtra Police
- The Losers
- Lucky loser
- Winners & Losers
- Asian Paints
ALSO READ
Al-Hilal wins 28th straight game to set record, Saudi team reaches Asian Champions League SF
DLF sells 4.67 acre land in Chennai for Rs 735 cr to Cholamandalam Investment and Finance Company
Soccer-Lopes volley takes 10-man Marinos into Asian Champions League semis
Union Asset Management Company appoints Madhu Nair as CEO
French shipping company CMA CGM commits to buy BFM-owner Altice Media