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    Market in tailspin as heavy selling grips D-street; NBFCs bleed

    Market in tailspin as heavy selling grips D-street; NBFCs bleed

    Market in tailspin as heavy selling grips D-street; NBFCs bleed
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    By Ajay Vaishnav   IST (Updated)

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    The Indian rupee recovered to trade at 1-week high of 71.77 against the US dollar.

    Indian equity market tanked in early afternoon trade on Friday as investors took to heavy profit-booking across sector, particularly in financial shares. The BSE Sensex hit the day's low of 35,993.64 from the high of 37,489.24, trading below 36,000 mark. The NSE Nifty50 too breached 11,000 mark, falling to the day's low of 10,866.45, from the day's high of 11,346.80.
    At 1.20 pm, the Nifty recovered to trade at 11,092.05, still lower by 142.30 points, or 1.27 percent, while the Sensex traded at 36,942.44, down by 178.78 points, or 0.48 percent.
    (Market update as of 1.23 pm)
    Sensex, Nifty sustain gains; FMCG, IT, pharma trade weak
    Indian equity indices traded higher on Friday, sustaining gains from the morning trade tracking positive global sentiments and strengthening of the Indian rupee against the US dollar.
    The BSE Sensex traded higher by more than 227 points, at 37,348.93 at 11.50 am. The NSE Nifty50 also gained by a little over 69 points to trade at 11,303.40.
    The Sensex opened at 37,278.89 and has hit a high and a low of 37,489.24, 37202.94, respectively. The Nifty started at 11,271.30 and has hit a high of 11,346.80 and a low of 11,263.60.
    The NSE MidCap dipped 0.44 percent, while the BSE MidCap edged lower by 0.17 percent. Largecap traded higher by 0.32 percent, while smallcap dipped 0.43 percent on the BSE.
    Among sectoral indices, BSE Energy, metal, oil & gas, surged higher by up to 1.44 percent.
    Realty, pharma, media, IT and FMCG traded weak on the NSE among sectoral indices. PSU Bank surged by 1.90 percent, while Nifty Bank gained by 0.44 percent.
    Axis Bank, ICICI Bank, SBI, ITC, M&M, Bharti Infratel, HPCL surged by up to 3.65 percent. Apart from Yes Bank shares which tanked over 30 percent in trade today, Hindustan Unilever, Vodafone Idea, Bajaj Finance, Sun Pharma, Infosys and Bharti Airtel declined by up to 2.06 percent.
    The Indian rupee recovered to trade at 1-week high of 71.77 against the US dollar.
    Asian shares maintained momentum, trading higher as trade war concerns eased. Japan's Nikkei traded higher by 0.82 percent, while Hong Kong's Hang Seng surged 1.27 percent.
    Also, catch all the action and updates in our Market Live blog.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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