MUMBAI: After the big gains on Thursday, on the last trading day of the week i.e. on Friday, the Indian stock market is once dominated by selling. On this day, the Sensex was down 500 points at the level of 31 thousand 300 points in the initial 15 minutes of business, while the Nifty has dropped to 150 points by 9,100.

In the initial trade, banking sector stocks were the biggest losers. Kotak Bank, Bajaj Finance, IndusInd Bank, HDFC and ICICI Bank were trading with a fall. On the other hand, shares of HCL, Sun Pharma, Hieromoto Corp, Tech Mahindra and L&T saw strength. Let the Sensex and Nifty close on Thursday. The Sensex gained 483.53 points or 1.54 percent to close at 31,863.08. At the same time, the Nifty also remained at 9,313.90 with a strength of 127 points.

At the same time, the international rating agency Fitch has estimated India's GDP growth rate to be 0.8 percent for the year 2020-21. Fitch has said that due to the ongoing lockdown and global economic slowdown due to the coronavirus epidemic, the estimate has been reduced. According to Fitch, the main reason for the decline in growth rate in FY 2021 will be the decrease in consumer spending. Consumer spending will come down from 5.5 percent to 0.3 percent this year.

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