Sensex snaps 8-day winning run, ends 415 points lower; IT, Auto stocks weigh
The frontline indices snapped their eight-day winning streak run as investors preferred to take home some profits ahead of the weekend and upcoming RBI policy next week. Auto and IT shares, in particular, witnessed selling pressure.
The S&P BSE Sensex dropped to a low of 62,680, and ended 415 points lower at 62,869. In the process, the benchmark trimmed its weekly gain to 575 points.
The NSE Nifty 50 settled just a shade below the 18,700-level, down 117 points on Friday.
Among the Sensex 30 shares, auto stocks were the major losers as they reacted to the monthly auto sales numbers. Mahindra & Mahindra slipped over 2 per cent. Maruti was down 1.5 per cent.
Hindustan Unilever, Nestle India, HDFC, Asian Paints, Bajaj Finance, PowerGrid Corporation, ICICI Bank, Sun Pharma, TCS and Infosys were the other significant losers, down over a per cent each.