All the shares in the BSE Sensex closed in red on Friday with ONGC being the top loser, shedding 6.6 percent, followed by Mahindra & Mahindra, Bajaj Finserv, and Axis Bank
Equity benchmark Sensex tanked over 1,900 points while the NSE Nifty shed 568.2 points at the close of the market on Friday with equities witnessing a sharp sell-off ahead of the December-quarter gross domestic product data.
Banking and financial stocks led the fall as the Nifty Bank, Private Bank, PSU Bank and Financial Services indices all fell up to 5 percent, reported Moneycontrol.com.
After touching a low of 48,890.48, minutes before the closing bell, the 30-share Sensex summed up the day 3.80 percent lower at 49,099.99.
Similarly, the broader NSE Nifty too closed in red shedding 3.76 percent to close at 14,529.15. It touched the day’s low of 14,467.75 minutes before closing.
The Nifty Next 50, Nifty Midcap 50, and the Nifty Bank also closed in negative with the Nifty Bank shedding 4.78 percent to close at 34,803.
All the shares in the BSE Sensex closed in red on Friday with ONGC being the top loser, shedding 6.6 percent, followed by Mahindra & Mahindra (-6.35 percent), Bajaj Finserv (-6 percent), and Axis Bank (-5.98 percent). Index heavyweight Reliance closed at 2083.85 a share sheding 2.84 percent in Friday’s trade.
All the components of the Nifty 50 too closed in red Friday with ONGC being the major loser, followed by Mahindra and Mahindra, Powergrid, JSW Steel and HeroMotoCo.
In the previous session, Sensex spurted 257.62 points or 0.51 percent to finish at 51,039.31, and Nifty climbed 115.35 points or 0.77 per cent to 15,097.35.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 188.08 crore on Thursday, as per exchange data.
“Recent rise in bond yields globally and concerns with regard to higher commodity prices weighed on investors’ sentiments as these two elements reduce the future value of cash flows and earnings,” said Binod Modi Head-Strategy at Reliance Securities.
US equities witnessed a steep fall as a sharp spike in bond yields dampened investors’ sentiments. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with significant losses in mid-session deals.
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