Domestic equity indices closed Monday’s session on a tepid note. The S&P BSE Sensex dropped 332.55 points or 0.86 per cent to trade at 38,312.52. The broader Nifty 50 slipped 98.15 points or 0.84 per cent to trade at 11,582.35. Asian stocks dropped for the third consecutive session on Monday, hit by worries over further escalation of the U.S-China trade war and unstable emerging market currencies.
Main losers on Sensex pack in the session were Hindustan Unilever (-4.58%), Power Grid (-2.92%), Axis Bank (-2.69%), ICICI Bank (-2.51%), ITC (-2.01%), Mahindra & Mahindra (-2.00%). Hindustan Unilever, ICICI Bank and ITC were among main contributors to the losses in Sensex. Main laggards on Nifty pack were Bajaj Finance (-4.78%), Hindustan Unilever (-4.51%), Power Grid (-3.62%), Axis Bank (-2.86%) and ITC (-2.61%).
On the other hand, major gainers in the 30-share Sensex pack in the session were Wipro (+2.49%), Bajaj Auto (+0.68%), HDFC Bank (+0.58%), Sun Pharma (+0.57%), Coal India (+0.47%) and Vedanta (+0.44%). Dr Reddy’s (+3.85%), Wipro (+2.62%), Eicher Motors (+2.34%), Titan (+2.20%) and Hindustan Petroleum (+1.26%) led the pack of Nifty gainers.
GDP data released after market hours on Friday showed that India’s economy grew 8.2 per cent in the April-June period. That marked the highest level of economic growth recorded since the January-March period in 2016, and cemented India’s position as the fastest growing major economy ahead of China’s 6.7 per cent.