It was another day of losses for Indian equity benchmarks as foreign fund outflows, mixed with selling in private banks and a weak global trade scenario continued to deflate investor sentiment.
Benchmark Sensex declined by nearly 466 points on Friday in its second straight day of losses, with the 30-share BSE Sensex tanking 465.75 points or 0.55 per cent to settle at 83,938.71. During the day, it dropped 498.8 points or 0.59 per cent to 83,905.66.
The 50-share NSE Nifty fell by 155.75 points or 0.60 per cent to 25,722.10.
Mixed corporate earnings and a lack of clarity on the US Federal Reserve’s future rate action also added to the dismal performance of stock markets, analysts said.
From the Sensex firms, Eternal, NTPC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finserv, Power Grid, Trent and HDFC Bank were among the major laggards.
Also Read: Sensex declines 593 pts on Fed’s doubts over future rate cut
However, Bharat Electronics, Larsen & Toubro, Tata Consultancy Services, ITC and State Bank of India were the gainers.
In Asian markets, South Korea’s Kospi and Japan’s Nikkei 225 index settled in positive territory, while Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended lower.
Markets in Europe were trading in the red, while the US markets also ended in negative territory on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,077.59 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs), however, were the buyers, as they bought equities worth ₹2,469.34 crore in the previous trade.
Global oil benchmark Brent crude declined 0.31 per cent to USD 64.80 a barrel.
On Thursday, the Sensex tanked 592.67 points or 0.70 per cent to settle at 84,404.46. The Nifty tumbled 176.05 points or 0.68 per cent to 25,877.85.
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