The BSE Sensex plunged by about 410 points to close at a five-month low while the broader Nifty crashed below the 10,000 mark for the first time this year following a global sell-off due to fears of a trade war as US President Donald Trump announced tariffs on Chinese goods.
The 30-share Sensex tumbled by 409.73 points or 1.24 per cent to close at a five-month low of 32,596.54, a level last seen on October 23 last year.
The 50-issue Nifty ended below the psychological 10,000-level by dropping 116.70 points or 1.15 per cent to 9,998.05, the lowest closing level in five months. The level was last seen on October 11 last year, when it had closed at 9,984.80.
Investors lost around Rs 1.57 trillion in market valuation on Friday.
For the fourth straight week, the flagship Sensex recorded a fall of 579.46 points, or 1.75 per cent, while the NSE Nifty lost 197.10 points, or 1.93 per cent.
Realty, metal, bankex, capital goods, healthcare, PSU, auto and oil & gas stocks recorded widespread losses.
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Benchmark indices swung between gains and losses on Friday to end the day flat amid lack of global as well as domestic cues. Nifty50 settled the week 0.8% lower, its first weekly loss in six weeks, breaking its longest gaining streak since late 2014 while Sensex ended the week 0.6% lower.
Gains were capped by a sharp correction in pharma and IT stocks on worries over their earnings outlook while ITC, Tata Motors continued to support the market.
The S&P BSE Sensex settled at 31,056, down 19 points, while the broader Nifty50 ended at 9,588, up 10 points.
In the broader market, the S&P BSE Smallcap pared gains to finish 0.1% higher after rising 0.5% to hit its record high, while the S&P BSE Midcap index was up 0.2%.
Pharma was the top losing index amid worries about their earnings outlook because of pricing pressures in the United States, down 1.8%. Lupin was the biggest laggard on the index, down over 4% followed by 4% Divi’s Lab, Cadila Healthcare, Sun Pharma and Cipla.
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The benchmark indices on Friday ended flat as investors preferred to stay on the sidelines ahead of the Reserve Bank of India’s policy meeting next week. The S&P BSE Sensex settled the day at 28,240, up 14 points, while the Nifty50 quoted 8,740, up 7 points at close. In the broader market, BSE Smallcap index outperformed the frontline indices and BSE Midcap to gain 1%. BSE Midcap added 0.6%. The market breadth, indicating the overall health of the market, was strong. On BSE, 1,600 shares rose and 1,187 shares fell. A total of 159 shares were unchanged.
Shares of Bombay Stock Exchange (BSE) made a strong debut on Friday, with the scrip listing at Rs 1,085, a 35% premium over the issue price of Rs 806 on the National Stock Exchange (NSE). The stock hit a high of Rs 1,200, up 49% against its issue price within minutes of listing. The stock eventually settled the trade 33% higher at Rs 1,070 against its issue price.