The S&P BSE Sensex and NSE Nifty 50 indices closed sharply lower on Friday after a sell-off on Wall Street. The Sensex fell to 741 points and the Nifty 50 Index touched an intraday low of 11,303.65. A gauge of global equities fell on Thursday as US markets opened up and were hit by weakness in the tech sector, while the dollar continued to rebound from lows of more than two years. At home, Reliance Industries, HDFC Bank, HDFC, ICICI Bank and Infosys were among the biggest obstacles for Sensex.
She’s 10 things to know about today’s sale:
-
The Sensex closed 634 points or 1.63 percent lower at 38,357 and the Nifty 50 Index fell 194 points or 1.68 percent to close at 11,334.
-
Overnight on Wall Street, the Dow Jones fell 2.78%, the S&P 500 Index fell 3.51% and the Nasdaq Index plunged 5%.
-
“When the US and world markets shake, the domestic markets will also be affected. The (Nifty) index has not yet recovered even half from the lowest level recorded in Monday’s sale,” AK Prabhakar, chief told NDTV. Research Department of IDBI Bank.
-
“The markets will have a great time, but not now … We have to wait a bit,” he said.
-
Losses at Reliance Industries, HDFC, ICICI Bank, Infosys, and Axis Bank erased more than 300 Sensex points.
-
The 11 sector indicators compiled by the National Stock Exchange ended lower led by the fall of almost 3% of the Nifty Metal index. Stocks in banking, financial services, consumer goods, information technology, energy and real estate also witnessed intense selling pressure.
-
Small-cap and mid-cap stocks also experienced selling pressure as the Nifty Midcap 100 Index fell 1.55% and the Nifty Smallcap 100 Index fell 1%.
-
Except for Maruti Suzuki, all Nifty 50 shares closed down on the National Stock Exchange.
-
Tata Steel was the main loser from Nifty, shares fell 4% to close at Rs 421. Axis Bank, Adani Ports, JSW Steel, NTPC, Tata Motors, State Bank of India, Bharti Airtel, Grasim Industries, Dr. Reddy’s Labs , UPL, IndusInd Bank and Wipro also fell 2.3-3.8 percent each.
-
The overall breadth of the market was extremely bearish as 1,723 stocks closed lower while 1,003 closed higher on the BSE.
.
