Sensex tanks by another 340.78 pts to 7-month low of 33,249.31

Mumbai: On Friday the domestic stock market fell to end the session at a seven-month low. Bombay Stock Exchange (BSE) benchmark index Sensex closed at 340.78 points ie 1.01% lower at 33,349.31, the lowest closing after April 4 when it had finished at 33,019.07.

Nifty50 index of the National Stock Exchange (NSE) shed 94.90 points or 0.94% and settled at 10,030.00, its weakest closing after March 23, when it finished at 9998.05 points.

BSE’s slip caused a brisk sell-off in banking, IT and FMCG stocks amidst weakness of the rupee and negative cues from global peers.

With Friday’s fall, the Sensex has plunged by 683 points in the last couple of days. The equity market was under pressure as the November derivatives series started on a subdued note due to weakness in the Indian currency and weaker leads from global markets.

Both key indices, Sensex and Nifty, recorded their second straight week of losses by plunging nearly 966.32 points and 273.55 points, respectively.

The market went up by 86 points to 33,776.80 in the morning session but immediately pared the gains and remained in negative zone throughout the day. During the day, it sank by 399 points to touch day’s low of 33,291.58 before closing at 33,349.31, sliding by 340.78 points as compared to its last close.

The Nifty registered day’s high and low at 10,128.85 and 10,030 points, respectively. Sectoral indices such as IT, Technology, Bankex, Power, FMCG, and Finance were badly hit for another day on Friday, along with scrips of Yes Bank, TCS and Kotak Bank, brokers informed.

The broader markets were also under pressure, as the S&P BSE Mid-Cap index and Small-Cap fell by 0.11% and 0.04 pc, respectively. The market breadth was negative on BSE, as 1,100 shares advanced against 1,449 declined and 154 were unchanged.

(With inputs from UNI)