Sensex ends Friday nearly 450 pts lower, Nifty breaches 10,000; midcaps tank
Equity benchmark indices witnessed a carnage on Friday, with the Sensex ending nearly 450 points lower, while the Nifty breached 10,000-mark, falling over 150 points.
The benchmark indices fell over 1%, extending losses for the fourth straight session, while the rupee hit its weakest point since early April amid concerns that the government’s plan for a stimulus to halt an economic slowdown may have a negative impact on the fiscal deficit.
Global investor sentiment was also subdued after North Korea said it might test a hydrogen bomb in the Pacific Ocean and escalated a war of words with US President Donald Trump.
The Sensex closed down 447.60 points at 31922.44, while the Nifty ended lower by 157.50 points at 9964.40. The market breadth was negative as 524 shares advanced against a decline of 2,082 shares, while 144 shares were unchanged.
Midcaps and metal stocks tanked, falling 3-4 percent, while IT index was the least hit among all.
Wipro, Tata Motors, and HCL Tech were the top gainers, while Tata Steel, L&T and Hindalco lost the most.
GlaxoSmithKline Consumer Healthcare share price fell more than a percent after global research firm Nomura slashed its target price on the stock to Rs 5,271 per share from Rs 5,538.
The share price of Reliance Home Finance, the subsidiary of Reliance Capital, continued to trade with 5 percent gains since opening.