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%.
Riding high on exit polls that predict a BJP victory in Gujarat and Himachal Pradesh, the Sensex shot up 358 points on Friday, aided by heavy liquidity and a surging rupee.
The ruling BJP at the Centre looks headed for a win in both Gujarat and Himachal Pradesh assembly elections, according to a string of exit polls by survey agencies.
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The impact was visible as all sectoral indices led by metal and capital goods jumped by up to 1.87 per cent.
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The 30-share Sensex climbed 358.11 points, or 1.07 per cent, to 33,605.11. It had gained 193.66 points in the previous session. The 50-share NSE Nifty too went up 110.20 points, or 1.07 per cent, to 10,362.30.
In the forex market, the rupee appreciated 23 paise to 64.11.
Prominent gainers include Adani Ports, Bajaj Auto, HDFC Bank, L&T and Tata Steel, rising by up to 2.48 per cent.
Globally, at other Asian markets, Japan’s Nikkei was down 0.88 per cent while Shanghai Composite shed 0.48 per cent in early trade today. Hong Kong’s Hang Seng too fell 0.96 per cent.
The US Dow Jones Industrial Average ended 0.31 per cent down yesterday.
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