Sensex Closes 336 Points Lower, Nifty Ends Near 12,050 Ahead Of GDP Data

Ending the two-day winning streak, Indian stock market benchmark indices closed lower but recovered from the day's low on the back of buying seen at the last hour of trade on Friday

BSE's Sensex closed 336.36 points or 0.82 per cent lower at 40793.81, while Nifty was down 95.20 points or 0.78 per cent at 12,056.

The movement comes ahead of GDP (gross domestic product) data to be declared later today at 5.30 pm. Global cues were not very strong, as Asian markets were lower, led by worries in Hong Kong.

The signing of bill by U.S. President Donald Trump in support of Hong Kong protesters on Wednesday left investors worries on trade negotiations between Washington and Beijing. Most of the Asian markets were lower.

The Sensex was trading lower by 380 points, while the Nifty lost 107 points by 2.00 pm.
Among the gainers was Ashoka Buildcon after the Company received Letter of Award for development of Bundelkhand Expressway Project.

Shares in Indiabulls Housing Finance, which soared as much 13 per cent intraday, fell 20 per cent in the afternoon. The Ministry of Company Affairs said it has found no irregularities in the loans given to five companies by Indiabulls Housing Finance, as alleged in a public interest litigation (PIL).

Heavyweights like Reliance Industries, HDFC, HDFC Bank and ICICI Bank also dragged the indices lower. All eyes would be on the GDP numbers as it is expected to fall further to an estimated 4.6 per cent.