Business

Sensex slips 433 points, Nifty ends below 11,200; Banks, auto stocks drag

Mumbai: Domestic equity benchmark Sensex plunged 433 points on Friday, tracking heavy losses in banking, consumption and auto stocks amid a selloff in global markets.

Tanking 663 points from the day's high, the 30-share BSE index settled 433.15 points or 1.13 per cent lower at 37,877.34.

The broader NSE Nifty slumped 122.05 points or 1.08 per cent to close at 11,178.40.

Axis Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech and IndusInd Bank.

On the other hand, Sun Pharma, NTPC, Tata Steel, Titan and Infosys were the gainers.

According to traders, key indices made a U-turn after trading on a positive note in the first half of the session following massive losses in European equities.

Stock exchanges in Paris, Frankfurt and London plunged up to 2 per cent in early deals.

Bourses in Hong Kong and Seoul ended in the red, while Shanghai and Tokyo settled with gains.

Global oil benchmark Brent crude was trading 0.65 per cent lower at USD 44.67 per barrel.

In the forex market, the rupee settled 6 paise lower at 74.90 against US dollar.

Source:

www.deccanchronicle.com

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