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Nifty bleeds red on Friday; crashes over 1%
India, Feb. 8 -- Key equity benchmark -- Nifty -- witnessed worst single-day performance in seven weeks led by a sharp sell-off in Metal and Auto stocks amid negative cues from the global markets. Nifty ended sharply lower on the last day of the trading week, gave up the psychological 11,000-mark. Barometer made a gap-down start as traders remained deeply negative with disappointing third quarter number by Tata Motors. The company reported a consolidated net loss of Rs 26,960 crore for the third quarter of this fiscal due to asset impairment in its British arm Jaguar Land Rover (JLR). Investors ignored Finance Minister Piyush Goyal's statement that the rate cut by the RBI will give a boost to the economy by providing affordable credit to sm...
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