Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
Equity benchmarks slipped in the morning deals of Friday’s session, tracking subdued Asian markets.
The S&P BSE Sensex dropped 152.69 points or 0.31 per cent to 49,472.07 while the broader NSE Nifty dropped 54.35 points or 0.37 per cent to 14,590.35 in opening trade.
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On the Sensex chart, Axis Bank, Tech Mahindra, ONGC, Dr Reddy’s, Bajaj Finance and Sun Pharma were major laggards.
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Bajaj Auto, Asian Paints, Mahindra and Mahindra, Maruti Suzuki and Reliance Industries were top gainers.
During Thursday’s intro-day trade, the 30-share BSE Sensex had touched the 50,000-level for the first time ever on growth optimism and global cues but succumbed to profit-booking in fag-end trade.
However, the markets failed to keep up with the momentum by the end of the trading session. The Sensex had dropped 167.36 points or 0.34 per cent to end at 49,624.76. Similarly, Nifty had shed 54.35 points or 0.37 per cent to close at 14,590.35.
On the broader market front, the MidCap was trading 0.33 per cent higher at 19,050.55 and the SmallCap was trading with gains at 18,630.07, up by 0.080 per cent.
Asian shares were trading broadly lower in late afternoon deals on Friday, a day after hitting record highs.
Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 1,614.66 crore on Thursday, according to exchange data.
The global oil benchmark Brent crude slipped 1.37 per cent to USD 55.40 per barrel.
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