Sensex dips 300 points, Nifty below 9,450; Voda Idea zooms 15%

The Indian markets dipped half a per cent on Friday, tracking weakness in global markets amid escalating US-China tensions, and ahead of the release of GDP data for January-March quarter of 2019-20 (Q4FY20). The numbers, which are likely to come in post-market hours, are expected to show growth contracting with some analysts penciling in a 5 per cent dip. READ MORE

The S&P BSE Sensex slipped 207 points to 31,990 levels and the Nifty50 gave up the 9,450 mark. Infosys and Axis Bank (both down 2%) were the top Sensex laggards. On the other hand, Vodafone Idea surged 10 per cent on report that Google is in talks to buy a 5 per cent stake in the company.

The Nifty sectoral indices were largely in the red, led by Nifty Bank index, down 1.2 per cent. On the other hand, Nifty Pharma was up over 1 per cent.

Results today

A total of 31 companies including Voltas, Jubilant Life Sciences, and Metropolis Healthcare, are scheduled to announce their March quarter results today.