Sensex, Nifty slip in red amid weak global cues

Domestic stock market indices, Sensex and Nifty turned red amid volatility Friday amid weak global cues as rising pandemic cases in major countries dampened investor sentiment. The selloff in banking stocks continued while buying was witnessed in pharma stocks. 

The S&P BSE Sensex hovered around 43,400 levels. Earlier in the day, the index hit an intra-day low of 43,053. The broader Nifty50 index, meanwhile, was around 12,700 level. Bajaj Finserv (up 3%) was the top Sensex gainer. Besides, Bajaj Finance and Reliance Industries were also up 2 per cent, each.

Meanwhile, Business optimism has witnessed an increase in the ongoing quarter supported by various measures taken by the government and the RBI to boost consumption demand during the festive season, says a survey.
 
The fall in active cases of COVID-19 infected persons and the improvement in recovery rate also supported the business sentiment.

(With inputs from agencies)