Sensex drops 191 points; Nifty ends near 17,000 level


Mumbai: The BSE benchmark Sensex tumbled 191 factors on Friday, monitoring losses in index-heavyweights HDFC twins, Kotak Bank and Axis Bank amid combined cues from world markets.

After a uneven session, the 30-share index ended 190.97 factors or 0.33 per cent decrease at 57,124.31. Similarly, the NSE Nifty declined 68.85 factors or 0.40 per cent to 17,003.75.

NTPC was the highest loser within the Sensex pack, shedding round 3 per cent, adopted by M&M, Axis Bank, PowerGrid, Kotak Bank, Dr Reddy’s, Bajaj Finserv and HDFC.

On the opposite hand, HCL Tech, Tech Mahindra, Asian Paints, Wipro and Infosys had been among the many gainers.

“A range-bound day of trading ahead of Christmas ended the week as this month quite clearly belonged to the IT sector which stood tall amidst extreme volatility as cost-push inflation across sectors is keeping street worried on the impact in the hands of the consumer,” stated S Ranganathan, Head of Research at LKP Securities.

While buoyancy in exports and tax collections coupled with the success of the PLI schemes are positives, there are a lot of sectors the place consolidation is ready to occur which is the place long run buyers have to give attention to within the current corrective section, he famous.

Elsewhere in Asia, bourses in Hong Kong and Seoul ended with good points, whereas Shanghai and Tokyo had been within the crimson.

Stock exchanges in Europe had been buying and selling on a optimistic be aware in mid-session offers.

Meanwhile, worldwide oil benchmark Brent crude dipped 0.10 per cent to USD 76.52 per barrel. 

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