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- MARKET LIVE: Sensex tumbles 450 points, pvt banks, financials drag
MARKETS: Sensex dips 450 pts; AMFI assures investors after Franklin crisis
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SI Reporter |
Last Updated at April 24, 2020 11:34 IST
EVENT HIGHLIGHTS
Indian equity markets tracked weak global cues and slipped over one per cent on Friday, dragged by private banks and financials. The decision of Franklin Templeton Mutual Fund (MF) yesterday to wind up six of its debt schemes also eroded sentiment. READ MORE
The Association of Mutual Funds of India (AMFI) assured investors that the now closed schemes constitute less than 1.4 per cent of the Indian Mutual Industry and that a majority of the fixed income MF-AUM (Asset Under Management) was invested in superior credit quality securities.
Among individual stocks, ICICI Bank and Bajaj Finance (both down 4%) were the top laggards while HDFC twins were also down 2 per cent each. On the other hand, Reliance Industries (up 3%) was the lead Sensex gainer.
At the index level, the S&P BSE Sensex was down 478 points, or 1.5 per cent, at 31,380 levels and the Nifty50 hovered around 9,210. All the Nifty sectoral indices were in the red, led by Nifty Private Bank and Nifty Financial indexes, both down 3 per cent each.
The Association of Mutual Funds of India (AMFI) assured investors that the now closed schemes constitute less than 1.4 per cent of the Indian Mutual Industry and that a majority of the fixed income MF-AUM (Asset Under Management) was invested in superior credit quality securities.
Among individual stocks, ICICI Bank and Bajaj Finance (both down 4%) were the top laggards while HDFC twins were also down 2 per cent each. On the other hand, Reliance Industries (up 3%) was the lead Sensex gainer.
At the index level, the S&P BSE Sensex was down 478 points, or 1.5 per cent, at 31,380 levels and the Nifty50 hovered around 9,210. All the Nifty sectoral indices were in the red, led by Nifty Private Bank and Nifty Financial indexes, both down 3 per cent each.
RESULTS TODAY
Mindtree is slated to announce its March quarter results today. The company is expected to take a hit on most of its verticals due to disruptions caused by Covid-19 with higher impact on the company's Travel and Hospitality vertical due to travel bans and restrictions. READ MORE
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