Sensex sinks 889 points amid broad-based selloff; Nifty closes below 17,000


IndusInd Bank was the top loser in the Sensex pack, shedding around 5%, followed by Kotak Bank, HUL, Titan, Bajaj Finserv and HDFC.

Equity benchmark Sensex plummeted 889 points on Friday, weighed by an across-the-board selloff amid a negative trend in global markets and relentless foreign fund outflows.

The 30-share index ended 889.40 points or 1.54% lower at 57,011.74. Similarly, the NSE Nifty plunged 263.20 points or 1.53% to 16,985.20.

IndusInd Bank was the top loser in the Sensex pack, shedding around 5%, followed by Kotak Bank, HUL, Titan, Bajaj Finserv and HDFC.

On the other hand, Infosys, HCL Tech, PowerGrid and TCS were among the gainers.

“Indices succumbed to the relentless FII selling this month as the Nifty skid below 17K with the IT Index being the only exception,” said S Ranganathan, Head of Research at LKP Securities.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with losses, while Seoul was positive.

Similarly, stock exchanges in Europe were also largely trading in the red in mid-session deals.

Meanwhile, the international oil benchmark Brent crude fell 1.48% to $73.91 per barrel.

,

See also  Rupee gains 31 paise to close at 74.03 against US dollar