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Nifty Sinks As Unabated Selling Continues


Markets once again witnessed a fresh round of selling, as Foreign Portfolio Investors continued to dump Indian stocks.


The Nifty fell 126 points at 11,158 points, wile the Sensex dropped 334 points in trade. Finance Minister, Nirmala Sitharaman's clarifications on tax surcharge on FPIs, did not do much good, as market sentiments continued to remain sour.

HDFC twins, where FPIs have maximum stake, continued to be beaten down with both HDFC and HDFC Bank losing more than 2 per cent.

However, ICICI Bank surged almost 3 per cent, after a good set of quarterly numbers.

The worst impacted in today trade was IndiaBulls Housing Finance, which dropped as much as 8 per cent, after reports that BJP leader Subaramaniam Swamy had sent a letter to the Prime Minister, alleging some fraud against the company.

Nifty Sinks As Unabated Selling Continues

Share price of Vodafone Idea touched 52-week low of Rs 7.30, down 26 percent on July 29 as company reported poor numbers for the quarter ended June 2019.
Shares in Idea Vodafone plunged 26 per cent, after the company posted net loss at Rs 4,873.9 crore in the Q1FY20 against loss of Rs 4,881.9 crore in the quarter ended March 2019.


Meanwhile, most Asian markets were trading with losses as Dow Futures pointed to a lower opening.

Read more about: nifty sensex
Story first published: Monday, July 29, 2019, 12:17 [IST]
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