After taking a breather in the previous week, markets resumed on their declining trend once again. Higher US interest rates, growth concerns in China, and global trade tensions weighed on sentiments and led to a big sell-off in the last two sessions of the week.
Heavyweights like Reliance Industries fell sharply despite posting record quarterly profit for Q2FY19. Market participants seem to be disappointed after the company's gross refining margins fell to a 3.5-year-low. In addition, unabated FII selling, depreciating rupee, and trade deficit continued to haunt sentiments on the street.
Heavyweights like Reliance Industries fell sharply despite posting record quarterly profit for Q2FY19. Market participants seem to be disappointed after the company's gross refining margins fell to a 3.5-year-low. In addition, unabated FII selling, depreciating rupee, and trade deficit continued to haunt sentiments on the street.
Shares of housing finance companies, meanwhile, continued to be battered down badly. Indiabulls Housing Finance, PNB Housing Finance, Repco Home Finance, and LIC Housing Finance were among the top losers this week.
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