Benchmark indices on Friday opened more than 1 percent lower in the opening session with Sensex crashing nearly 600 points to trade below 54,800 and Nifty declining more than 200 points to slip below 16,300.
Benchmark indices BSE Sensex and Nifty 50 on Friday crashed more than 1 percent lower in the opening session. While Sensex declined nearly 600 points to trade below 54,800, Nifty was down by more than 200 points to slip below 16,300.
IT and metal stocks were the major draggers with Wipro crashing over 3 percent and Tata Steel trading more than 2.50 percent lower. Other index heavyweights like Tech Mahindra, Infosys, Kotak Mahindra Bank, HDFC, Bajaj Finance and Sun Pharma too started trading in the red.
Power Grid Corporation of India, Maruti Suzuki India, Titan Company and NTPC were trading in the green. Nifty Bank index also fell 450 points or 1.28 per cent to trade below 34,700.
Earlier on Thursday, indices snapped a four-day losing run as Sensex jumped 427 points to settle at 55,320 and Nifty advanced 121.85 points or 0.74 percent to finish at 16,478.10. Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 1,512.64 crore, as per stock exchange data.
Rupee hits record low
Meanwhile, the rupee depreciated 8 paise to a record low of 77.82 against the US dollar in opening trade.
News Sources – India Tv News
