Indices At Lowest Levels Since July 9, Rising Oil rices Major Concern

Indian stock markets have recorded lowest closing levels for both the indices since July 9. 

Selling took hold at the start of October futures and options (F&O) series in the derivatives segment as investors were concerned over the surging crude oil prices and escalating trade tensions between the US and China.

Both the indices recorded their fourth straight weekly fall on Friday.The Sensex lost 614.46 points, or 1.67 per cent, and the Nifty dropped 212.65 points, or 1.91 per cent, for the week.

Twenty out of 30 Sensex stocks finished the session were in the red on FRiday. Prominent losers in the 30-share Sensex pack were Yes Bank (-9.72%), HeroMotoCorp (-5.16%), Bharti Airtel (-5.01%), Tata Steel (-4.85%), Vedanta (-3.60%) and Bajaj Auto (-3.43%).Main laggards on NSE Nifty were Yes Bank (-9.42%), Indiabulls Housing Finance (-9.01%), Hindalco (-6.36%), HeroMotoCorp (-5.66%) and Tata Steel (-5.19%).

The equity markets have been under pressure after concerns over bad debt in non-banking financial companies triggered a broad selloff, reported news agency Reuters.

10. The Nifty fell 6.42 per cent in September while BSE index lost 6.26 per cent - their worst monthly performance since February 2016.