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Tuesday, May 24, 2022

Indian shares slide, end week nearly 3pc lower

Indian shares slide, end week nearly 3pc lower

Indian shares closed at a seven-month low on Friday, dragged by IT and banking stocks, in line with a worldwide sell-off amid worries over global trade and economic growth.

The broader NSE index ended 0.94 percent lower at 10,030, while the benchmark BSE index closed down 1.01 percent at 33,349.31.

Both the bourses posted their seventh weekly loss in eight. The NSE index finished the week 2.7 percent lower, while the BSE index was down 2.8 percent on the week.

IT giants Infosys Ltd and Tata Consultancy Services closed down 2.3 percent and 2.9 percent, respectively. Yes Bank Ltd ended 8.9 percent weaker, and posted its worst close since April 2016.

Copyright Reuters, 2018


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Source: Brecorder

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