Losses in IT and pharmaceutical stocks weighed on the markets
Domestic stock markets were muted on Friday tracking weakness across global equities amid increasing COVID-19 infections. The S&P BSE Sensex index declined as much as 0.63 per cent - or 238.07 points - to 37,787.38 during the session, whereas the broader NSE Nifty 50 benchmark dropped to as low as 11,142.05, down 58.1 points (0.52 per cent) from its previous close. Gains in automobile and consumer goods shares were offset by losses in IT and pharmaceutical stocks. (Track Sensex, Nifty Here)
At 12:49 pm, the Sensex traded 59.52 points - or 0.16 per cent - lower at 37,965.93, while the Nifty was down 7.90 points - or 0.07 per cent - at 11,192.25.
The health ministry said on Friday there were 62,538 new infections, taking the country's total to 2.03 million.
The Nifty Bank - comprising stocks of 12 major lenders in the country - managed to trade 0.09 per cent higher, having declined as much as 0.88 per cent earlier during the session.
The RBI on Thursday announced a one-time loan restructuring for companies battered by the pandemic, a move welcomed by markets, and also left the door open for more interest rate cuts.
Other Asian markets tumbled after US President Donald Trump ratcheted up already-heightened tensions with China by banning US transactions with Tencent and the owner of TikTok. (Also Read: Facebook Shares Surge Over 6%)
MSCI's broadest index of Asia Pacific shares outside Japan was last seen trading 1.03 per cent lower, whereas Japan's Nikkei 225 benchmark declined 0.39 per cent.
European share markets started Friday's session on a lacklustre note, with the United Kingdom's FTSE benchmark last seen trading flat in early trade.
France's CAC and Germany's DAX indices were down 0.30 per cent and 0.01 per cent at the time.
