(File photo)
NEW DELHI: Markets started on a lower note with the benchmark index BSE Sensex dropping more than 650 points on Friday following its global peers amid widespread sell-off. Sensex dived 651 points or 1.67 percent to 38,341; while the broader NSE Nifty it was down 185 points, or 1.60 percent, to 11,343.
The main laggards in the BSE package included Hindustan Unilever, Maruti, L&T, Bharti Airtel, Nestlé India and Sun Pharma, with their shares falling as much as 0.27 percent.
On the NSE platform, all sub-indices were trading in the red with Nifty Private Bank and Nifty Bank down as much as 2.39%.
Sensex had finished 95 points or 0.24 percent down at 38,991 in the previous session; while Nifty had closed 8 points or 0.07 percent to 11,527.
On the global front, Asian stock markets had their worst session in two weeks on Friday following a tech-driven Wall Street slide, although gains in safer assets like bonds and dollars eased as investors waited for the data. US labor to see if it triggers a sell off.
“It was a steady sale rather than a panic,” ING regional head of investigation Rob Carnell told the Reuters news agency.
“It just doesn’t sound or feel like anything more than a little profit taking … if this was a massive move in risk, I would have expected the dollar to rise, and it really didn’t.”
(With contributions from the agency)
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