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Sensex, Nifty slip, Moody’s outlook cut Factored

Market closed the weekend with a heavy selling pressure after Moody’s lowered India-outlook to Negative from Stable. Further, the Moody’s reportedly revised the outlook of Infosys & TCS along with some other entities including Exim India, Hero FinCorp, HDFC Bank, HUDCO and SBI – that disappointed market participants.

The Sensex lost 330-pt to settle at 40,324, while the NSE’s Nifty50 slipped below 12K-mark to close at 11,908, down 104-pt, on Friday.

In the Nifty50 Chart, YES Bank, up by 4.82%, IndusInd Bank, up 2.90%, ICICI bank up 2.39%, Eicher Motors and Kotak Mahindra Bank up nearly 1% each, as major gainers. On the other hand, Bharti Infratel went down 4.92%, Sun Pharma down 4.3%, Gail, UPL and Vedanta slipped up to 3.9%.

Except for realty and Pvt Banks, the entire sectoral indices on the NSE witnessed selling. Pharma stocks recorded a heavy cut, followed by public sector banks and FMCG stocks.

The Nifty Pharma index slipped 2.24% while the Nifty PSU Bank index ended 2.24%. On the revere side, Nifty Realty ended 1.66 %, Nifty Private Bank index gained 0.70%.  Get the best stock Tips from the Top Advisory in India.

Shares of DLF surged 5.38% on the NSE after the company reported a strong set of quarterly numbers. In addition, the DLF stock also inducted in the MSCI Global Standard Index w.e.f. Nov.26.

Shares of GAIL India slipped 3.90% on the NSE after the company posted a net profit of Rs.1,167.58-Cr down 34.7-pc, year-on-year.

Looking on a weekly basis, the Sensex gained 0.39% while Nifty added 0.14% For Free stocktips visit our website.