Below are Views On Indian shares tumbled on Friday By Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd
Indian shares tumbled on Friday, tracking weak cues from global markets as the 10-year U.S. Treasury yields continued to soar, reflecting expectations that the Federal Reserve will have to raise rates sooner to keep inflation contained. Nifty closed down by 3.8%. All the sectoral indices closed in red. Correction in midcap & smallcap stocks were less compared to large caps stocks. Investors also await the Q3 GDP numbers due out later in the day for directional cues. Dilip Buildcon rallied 1.9% after it emerged as the lowest bidder for two new HAM projects worth about Rs 2,241 crore. Jet Airways jumped 1.7%. after the National Company Law Tribunal has granted time till 2 March to aviation regulator DGCA to respond on the airline's slots issue.
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