Indian benchmark indices snapped the green run-on Friday and lost more than a percentage. Sensex slipped below the psychological mark of 60,000 and ended the week at 59,646, down 651 points. Nifty slipped almost 200 points to close at 17,758.
Almost all indices ended in red with Pharma, Health Sector, Realty and Autos leading the race to the bottom. IT index though ended flat. Adani Ports shined on an otherwise depressing day and surged more than 4%. L&T, Infosys and TCS also ended in the green.
On the red side, IndusInd Bank slipped 4%. Bajaj Twins, SBI Bank and Tata Steel also featured among of stocks that sank today.
Other markets in Asia also remained cautious. Chinese stocks had a mixed day on Friday as concerns over rising COVID-19 cases and a sluggish economic recovery lingered. However, real estate shined on expectations that authorities would support the sector.
Shanghai Composite Index closed the day 0.6% down, while Hang Seng closed flat with a gain of around 0.05%.
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Tokyo’s benchmark Nikkei index closed nearly flat on Friday, with investors gravitating towards profit-taking but also cheered by a weaker yen. The Nikkei 225 index inched down 0.04%.
European stock indexes fell on Friday after German producer prices saw their biggest rise on record. Traders remain worried about a global economic slowdown and the pace of interest rate hikes by various central banks.