Business: Due to heavy selling in shares of IT companies and other global signals, there was a huge fall in the domestic stock market on Friday. At the end of trading, BSE Sensex fell 1048.16 points and closed at the level of 82,626.76. At the same time, NSE Nifty fell by 336.1 points to the level of 25,471.10. The biggest fallers on Nifty included Hindalco Industries, Hindustan Unilever, Eternal, Adani Enterprises and ONGC. On the other hand, Bajaj Finance, Eicher Motors, SBI Life Insurance, State Bank of India and Cipla managed to close with growth.
All major indexes closed in red mark
On sectoral basis, almost all the major indices closed in the red. Energy, Metal and Realty indices fell by 2-3 per cent each, while IT, Consumer Durables, FMCG, Telecom, Infra, Auto, Power, PSU and Oil & Gas indices fell by around 1 per cent each.
Heavy selling was also seen in the broader market. A decline of about 2 percent was recorded in Nifty Midcap and Smallcap indices, due to which the sentiment of the indices appeared weak. Among the top-30 companies included in BSE Sensex, Bajaj Finance and SBI closed in the green. The remaining 28 closed in the red i.e. in loss. That means today the decline was on a wide scale.
Indian rupee weakens by 3 paise
The Indian rupee fell 3 paise to close at 90.64 against the US dollar. On Friday, the rupee strengthened in a narrow range and closed 3 paise lower at 90.64 (provisional) against the US dollar. This happened due to the strength of the American currency in the foreign market and negative trend in domestic equities. Forex traders said the rupee was trading in a narrow range with a weak bias as a stronger dollar limited gains for emerging markets currencies including the rupee.
At the interbank foreign exchange market, the rupee opened at 90.69 against the US dollar, and touched an intraday high of 90.60 and low of 90.79 during the day. At the end of the trading session, the domestic unit was at 90.64 (provisional), 3 paise lower than its previous close. On Thursday, the rupee had closed 17 paise higher at 90.61 against the US dollar.
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