New Delhi: BSE Sensex extended losses to more than 500 points on Friday amid selling in financials.
Bajaj Finance was down 8 per cent, Bajaj Finserv was down 3.7 per cent, and Nestle was down 3.2 per cent. IndusInd Bank was down 3 per cent, M&M was down 2.1 per cent.
Sensex was trading at 73,830 points, down 509 points.
Nestle India reported 9 per cent YoY revenue growth during the quarter ended March 2024. The company has achieved a 12 per cent revenue CAGR over a five-year period (CY18-FY24). Domestic sales grew 9 per cent YoY, well supported by pricing, mix, and volume growth, Motilal Oswal Financial Services said. The brokerage reiterated a neutral recommendation due to expensive valuations.
PSU stocks were among the gainers in the broader market with HUDCO up 12 per cent, NLC India up 7 per cent, Engineers India up 6 per cent, and CONCOR up by 6 per cent.
Twenty-three out of 30 Sensex stocks were trading in the red. 1972 or 50 per cent of the stocks advanced while 1761 or 45 per cent of the stocks declined.
–IANS