Sensex drops by 200 points, Nifty ends below 19,700 as markets rally on 4th day

Sensex drops by 200 points, Nifty ends below 19,700
Image Source : FILE Sensex drops by 200 points, Nifty ends below 19,700

Equity benchmark indices Sensex and Nifty stayed on the back foot for the fourth straight session on Friday as investors offloaded healthcare, consumer durable and commodity stocks amid a weak trend in global markets. Foreign fund outflows and heavy selling in HDFC shares also hit investor sentiments, traders said.

After oscillating nearly 500 points between gains and losses during the day, the 30-share BSE Sensex declined 221.09 points or 0.33 per cent to settle at 66,009.15. During the day, it hit a high of 66,445.47 and a low of 65,952.83. The Nifty fell 68.10 points or 0.34 per cent to end at 19,674.25.

In the early trade, the benchmark indices had climbed after global financial firm JP Morgan said it plans to include Indian government bonds (IGBs) or government securities (G-Secs) into its Emerging Market index from next year, a move that will bring down borrowing cost for the government.

Wipro was the biggest loser among Sensex firms, sliding 2.32 per cent, followed by HDFC Bank, Power Grid, UltraTech Cement, ITC, ICICI Bank and Tata Motors. IndusInd Bank, Maruti, State Bank of India, Mahindra & Mahindra, Asian Paints and Bajaj Finserv were among the gainers.

In Asian markets, Seoul and Tokyo settled in the negative territory while Shanghai and Hong Kong ended in the green. European markets were trading mostly lower. The US markets ended in negative territory on Thursday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,007.36 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.59 per cent to USD 93.85 a barrel. The BSE benchmark fell 570.60 points or 0.85 per cent to settle at 66,230.24 on Thursday. The Nifty declined 159.05 points or 0.80 per cent to end at 19,742.35.

ALSO READ | Stock Markets: Sensex, Nifty open on quiet note in opening trade after three days of selling spree

ALSO READ | Stock market plunge: Sensex drops 570 points, Nifty falls by 160 points

Latest Business News