The equity barometers were trading near the day s low in afternoon trade. The Nifty was hovering below 15,050 level. Rising COVID-19 case and negative global cues impacted domestic sentiment. PSU banks and auto shares corrected sharply.
At 13:20 IST, the barometer index, the S&P BSE Sensex, dropped 216.25 points or 0.42% at 51,108.44. The Nifty 50 index lost 74.30 points or 0.49% at 15,044.65.
Selling was broad based. The S&P BSE Mid-Cap index slipped 0.85%. The S&P BSE Small-Cap index fell 0.11%.
Sellers outnumbered buyers. On the BSE, 1,400 shares rose and 1,444 shares fell. A total of 161 shares were unchanged. In Nifty 50 index, 12 stocks advanced while 38 stocks declined.
Foreign portfolio investors (FPIs) bought shares worth Rs 903.07 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,217.34 crore in the Indian equity market on 18 February 2021, provisional data showed.
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India to be among fastest growing emerging economies in FY22, rating hinges on deficit, debt
S&P said India s economy has stabilised over recent months, with progressively better manufacturing, services, labour market, and revenue data.
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NEW DELHI: S&P Global Ratings on Wednesday said India will be one of the fastest growing emerging market economies with a 10 per cent growth in the next fiscal, and future sovereign rating action would hinge on lowering fiscal deficit and sustaining debt burden.
S&P Director, Sovereign & International Public Finance Ratings, Andrew Wood said the forecast for India in 2021 is on stronger side and shows that a lot of economic activity, which was frozen last year, is coming back on line to normalisation thereby brightening the growth prospects, as well as structural strengths of Indian economy coming back to the fore.