Traders booked profits in late hours of trading on Thursday
Traders booked profits in late hours of trading on Thursday

Markets slide as technology, banking stocks taking a beating

ANI | Updated: Apr 04, 2019 16:21 IST

Mumbai (Maharashtra) [India], Apr 4 (ANI): Equity benchmark indices retreated further on Thursday with banking and tech stocks witnessing correction after the Reserve Bank of India cut repo rate by 25 basis points in a bid to stimulate private investments and economic growth.
Market swung between gains and losses in the morning session, but traders booked profits during late hours of trading.
The BSE S&P Sensex closed 192 points lower at 38,685 while the NSE Nifty 50 was down 46 points to 11,598.
Except auto, pharma, FMCG and media, all sectoral indices closed in the red. The top losers were Tata Consultancy Services, HCL Tech, Hindalco Industries, Bharat Petroleum and Yes Bank.
Indiabulls Housing Finance, Zee Entertainment, Tata Motors, UltraTech Cement and Britannia Industries gained between 2 to 3 per cent.
Meanwhile, Asian markets traded with mixed trends after witnessing a rally to six-month high.
Reports said the ongoing trade deal the United States and China will give Beijing until 2025 to meet commitments on commodity purchases and allow full foreign ownership for American companies operating in China as a binding pledge.