Home Business News Sensex dives 435 points to close at 50,890; Nifty settles below 15,000...

Sensex dives 435 points to close at 50,890; Nifty settles below 15,000 – Times of India

NEW DELHI: Equity indices fell for the fourth straight session on Friday with the benchmark BSE sensex falling over 400 points dragged by banking and auto stocks, amid negative cues from global markets.
The 30-share BSE index slipped 435 points or 0.85 per cent to close at 50,890; while the broader NSE Nifty settled 137 points or 0.91 per cent lower at 14,982.
ONGC, SBI, Axis Bank, ICICI Bank, Bajaj Auto and Maruti were the top losers in the sensex pack falling as much as 5.06 per cent.
While IndusInd Bank, HUL, NTPC, Dr Reddy, Reliance and TCS were the top gainers rising up to 2.15 per cent.
On the NSE platform, sub-indices Nifty PSU Bank, Auto, Bank and Metal falling as much as 4.76 per cent.
“There is a sense that valuations in certain cases are stretched and some people are booking profits,” A K Prabhakar, head of research at IDBI Capital told news agency Reuters.
He added that there might be some volatility and lower volumes on as bigger players would stay out of the market due to a local holiday in the financial capital of Mumbai.
On the global front, US markets finished lower as weaker jobless claim data and risk of potential rise in inflation amid elevated commodity and energy prices weighed on sentiments.
Meanwhile, foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 903.07 crore on Thursday, as per exchange data.
(With inputs from agencies)

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