Markets wobble on weak global cues

Mumbai: The Sensex and Nifty closed in the red on Friday, pressured by heavy selling in financial and banking stocks amid negative cues from Asian peers.

The 30-share BSE Sensex ended 143.36 points, or 0.39 per cent, lower at 36,594.33. The broader NSE Nifty shed 45.40 points, or 0.42 per cent, to close at 10,768.05. According to traders, domestic benchmarks followed the negative trend in other Asian equities as concerns over a fresh spike in Covid-19 cases and its impact on economic recovery weighed on investor sentiment. Axis Bank was the top loser in the Sensex pack, skidding 3.14 per cent, followed by IndusInd Bank, Titan, HDFC, ICICI Bank, ONGC and HDFC Bank. On the other hand, Reliance Industries, Sun Pharma, HUL and Bharti Airtel were among the gainers, rising up to 2.95 per cent.

IT bellwether TCS rose 0.78 per cent, a day after it reported a 13.8 per cent decline in June quarter consolidated net profit at Rs 7,008 crore on revenues being impacted by the coronavirus crisis. The company said it expects revenues to touch pre-Covid-19 levels only by the January-March quarter of this fiscal.