Key benchmark indices ended lower on Friday. Trading was volatile after the Supreme Court on Friday initiated contempt proceedings against telecom companies for non-payment of Adjusted Gross Revenue (AGR) dues and directed that all directors of the companies be present at the next hearing.The matter will be heard next on March 17. Global shares were mixed as investors monitored China’s Kovid19 (coronavirus) epidemic and updates on how badly it could dent growth in the world’s second-largest economy.
The U.S. government increase tariffs on aircraft imported from the European Union to 15% from 10%, ratcheting up pressure on Brussels in a nearly 16-year transatlantic dispute over aircraft subsidies. U.S. stocks were mixed after the close on Friday, as gains in the Utilities, Financials and Technology sectors led shares higher while losses in the Oil & Gas, Consumer Services and Telecoms sectors led shares lower.
Nifty50 closed lower at 12113.45 level, -61.20 points, or -0.50 per cent. Nifty Support : 12070 and 12000 Resistance : 12180 and 12220.
