has lost nearly 14 per cent since August and is set for its worst two back-to-back months since November 2008. The NSE Volatility Index gained 1.4 per cent, extending its surge since August 31, to about 53 per cent.
Foreign portfolio investors (FPIs) sold shares worth Rs 13.6 billion on Friday, provisional data provided by stock exchanges showed. Domestic institutions were net buyers to the tune of Rs 18.75 billion. YES Bank paced Friday’s declines, dropping 9 per cent after reporting a July-to-September profit that trailed analyst estimates.
Analysts said disappointment in earnings is adding to market woes.
“The initial set of results was good but as the season progressed, companies are struggling to maintain decent operational efficiency due to rising input costs, interest rates and depreciation in the rupee,” said Vinod Nair, head of research, Geojit Financial Services.
“And if the global volatility continues, investors will be more focused on safe havens like gold and bonds.”
Only seven Sensex stocks ended with gains on Friday. Among the biggest gainers were Tata Motors and Reliance Industries, which gained 2.1 per cent and 1.4 per cent, respectively.
Fourteen of the 19 sector indexes compiled by the BSE retreated, paced by the S&P BSE Information Technology (IT) Index’s 2.1 per cent fall. The drop pared its gains in 2018 to about 20 per cent, still the best performer among rivals.