In yet another disappointing session for D-street investors, the benchmark indices extended their losing run to the 3rd straight session on Friday. Among sectors, heavy selling was seen in banks, financial, capital goods and realty names.
The 30-share Sensex declined 1020.80 points to end at 58,098.92. Its broader peer, Nifty50, ended at 17,327.35, down 302.45 points. Power Grid was the top loser from the 30-share pack, falling 7.93 per cent to Rs 202.60.
M&M was down 3 per cent, SBI declined 2.99 per cent, and Bajaj Finserv fell 2.80 per cent. Bajaj Finance, NTPC, HDFC and IndusInd Bank were among the laggards. Sectorally, the Nifty PSU Bank index fell 3.97 per cent, Nifty Media plunged 3.44 per cent, and Nifty Financial Services declined 2.48 per cent. Nifty Midcap50 and Smallcap50 tumbled 2.68 per cent and 2.12 per cent, respectively.
Earlier in the day, Asian markets ended lower; China’s Shanghai Composite, South Korea’s Kospi and Hong Kong’s Hang Seng fell 0.66 per cent, 1.81 per cent and 1.18 per cent, respectively.
The market capitalisation of all listed companies on BSE declined Rs 4.88 lakh crore to Rs 276.66 lakh crore.
Mr Ajit Mishra of Religare Broking said since most sectors are trading in tandem with the benchmark, it’s prudent to maintain short positions also.
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