FINAL TRADE: Sensex ends 733 pts lower, Nifty slides to 22,476 dragged by financial, energy shares
Sensex Nifty Market News: Domestic equity benchmarks suffered sharp losses on Friday amid volatile trade. Financial and energy shares were the biggest drag on the headline indices amid weakness across most spaces. Bajaj Finance and Bajaj Finserv stocks, however, bucked the overall negative market trend, finishing the day with gains of about half a per cent.
Sensex Nifty Market News: Domestic equity benchmarks suffered sharp losses on Friday, with the Nifty50 retreating from a record high registered within the first few minutes of trade, amid selling pressure in financial and energy shares. The Bajaj twin stocks were among the few gainers in the financial space, a day after the RBI lifted certain restrictions on two of Bajaj Finance's lending products.
The Sensex ended 733 points, or one per cent, lower at 73,878.2 while the Nifty50--which crossed 22,783.4 to scale a fresh high of 22,794.7 during the session--settled at 22,475.9, down 172.4 points, or 0.8 per cent, from its previous close. While the Sensex gyrated in a 1,627.5-point range, between 73,467.7 and 75,095.2, in intraday trade, the Nifty50 moved within the 22,348.1-22,794.7 band.
Larsen & Toubro (LT), Maruti Suzuki (MARUTI), Nestle India (NESTLEIND), Reliance, Bharti Airtel (BHARTIARTL), HDFC Life (HDFCLIFE) and UltraTech (ULTRACEMCO)--closing between 1.7 per cent and 2.8 per cent lower--were the worst hit among the 35 losers in the Nifty50 basket.
On the other hand, Coal India (COALINDIA), Grasim, ONGC, Apollo Hospitals (APOLLOHOSP) and Hindalco--rising between 0.7 per cent and 4.8 per cent--were among the gainers.
Most sectoral indices ended in the red, with the Nifty Bank and the Nifty Financial Services declining 0.6 per cent and 0.4 per cent respectively.
The Nifty IT index, whose 10 constituents include TCS and Infosys, fell 0.9 per cent, dragged by a 10 per cent plunge in Coforge as the company's financial performance in the final quarter of FY24 fell short of analysts' expectations.
Bajaj Finance and Bajaj Finserv--commonly known as the Bajaj twins--ended about half a per cent higher.
Global markets
European shares began the day on a positive note led by banking and technology stocks, with the pan-continental STOXX 600 index trading 0.3 per cent higher at the last count.
Earlier in the day, equities across Asia rose, mirroring overnight gains on Wall Street after the US central bank indicated that it was leaning toward a dovish stance.
With inputs from agencies
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