Markets saw a price correction on the first session of the new June series derivatives today, with the Sensex losing over 95 points...

Markets saw a price correction on the first session of the new June series derivatives today, with the Sensex losing over 95 points and the Nifty closing below the 10,700-mark. Weakness in banking stocks offset gains in auto despite robust GDP numbers for the January-March quarter amid sustained foreign fund outflows. Leads from other Asian markets too were not supportive of renewed global trade war worries.

Nifty closing below the 10,700-mark

The 30-share Sensex closed lower by 95.12 points, or 0.27 percent, at 35,227.26 after shuttling between 35,438.22 and 35,177.35 on alternate bouts of buying and selling.  It had rallied 416.27 points yesterday on optimistic buying by participants ahead of GDP numbers. Also, the NSE Nifty shed 39.95 points, or 0.37 percent, to finish at 10,696.20. During the session, it moved between 10,764.75 and 10,681.50.

Markets started on a positive note

Markets started on a positive note after data showed that India's January-March 2018 GDP growth soared to a seven-quarter high of 7.7 percent, spurred by the robust performance of manufacturing, construction and service sectors, helping it retain the tag of the fastest growing major economy. However, early gains were completely wiped-off after selling emerged in the later part of the session. Both the Sensex and Nifty, however, registered gains for the week.  The Sensex climbed 302.39 points, or 0.87 percent, while the Nifty gained 91.05 points, or 0.86 percent, during this week.