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Afternoon Session: Market slips ahead of Q2 GDP data release, Nifty holds 12,000

Afternoon Session: Market slips ahead of Q2 GDP data release, Nifty holds 12,000

Afternoon Session: Market slips ahead of Q2 GDP data release, Nifty holds 12,000
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By Mousumi Paul  Nov 29, 2019 1:43:39 PM IST (Published)

Indian equity benchmark indices traded lower on Friday ahead of the release of data on Q2 GDP growth, which is anticipated to be lower than 5 percent this time. 

Indian equity benchmark indices traded lower on Friday ahead of the release of data on Q2 GDP growth, which is anticipated to be lower than 5 percent this time.

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At 12:40 pm, the Sensex was trading 379.33 points or 0.92 percent lower at 40,750.84 while the Nifty50 index was at 12,048, down 103.15 points.
Most sectors traded in the red with Nifty Metal the worst-performing sector of the day, down by 1.08 percent. Nifty Realty was the only sector trading in the green, up 0.29 percent.
Bharti Infratel, Bharti Airtel, NTPC, Adani Ports and Coal India were the top gainers of the Nifty50 index while Hindalco, Dr Reddy's Laboratories, Hindustan Unilever, Asian Paints, and Reliance Industries were the top losers.
The shares of Indiabulls Housing Finance climbed 11 percent on Friday after the Ministry of Corporate Affairs (MCA) found no signs of foul play in the loans cited by a PIL.
Shares of Future group companies surged after the Competition Commission of India (CCI) approved Amazon.com NV Investment Holdings' proposal to acquire about 49 percent share in Future Coupons, a Future Retail promoter group company.
India's economic growth is expected to have declined to below 5 percent in the second quarter of the financial year 2019-20 due to weak consumer demand, slowing factory activities and negative impacts of the prolonged monsoon. A CNBC-TV18 poll projected Q2 GDP growth of 4.64 percent, down from 5 percent in the Q1FY20 and 7 percent from the same quarter a year ago.
Meanwhile, Asian shares slipped on Friday, knocking a global stock index off its path to hitting an all-time peak as investors turned cautious, fearing a new US law backing Hong Kong protesters could torpedo efforts to end the US-China trade war.
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