The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 1.5 percent lower on Friday tracking a fall in the global markets.
The S&P BSE Sensex crashed 1,016.84 points (1.84 percent) to end at 54,303.44 while the Nifty 50 declined 276.30 points (1.68 percent) to settle at 16,201.80.
Investors lost ₹ 3.11 lakh crore in Friday’s session, with the market capitalization of all BSE-listed companies falling to ₹ 2,51,84,358.86 crore.
Mid- and small-cap shares finished on a weak note as Nifty Midcap 100 fell 0.83 percent lower and small-cap slumped 1.10 percent.
Both the indices had opened around 1 percent lower earlier in the day and slipped further as the trade progressed. The BSE benchmark hit an intraday low of 54,205.99 while the broader Nifty had touched 16,172.60.
On the Sensex pack, Kotak Mahindra Bank, Bajaj Finance, Housing Development Finance Corporation (HDFC), Reliance Industries (RIL), Wipro, Infosys, Tech Mahindra, Tata Steel, and Tata Consultancy Services (TCS) were the top losers on Friday.
In contrast, Asian Paints, Ultratech Cement, Dr. Reddy’s Laboratories, Titan Company, IndusInd Bank, Nestle India, and Hindustan Unilever ended in the green.
As many as 26 stocks in the Sensex pack traded in the red in the early trade. With a fall of 3.53 percent, Wipro emerged as the biggest loser in the pack.
It was followed by Bajaj Finance (down 3.29 percent), Tata Steel (down 2.75 percent), and Kotak Mahindra Bank (down 2.84 percent). Tech Mahindra, HDFC, Infosys, and Bajaj Finserv were also down somewhere between 1.50 percent and 2.50 percent.
IIFL Finance Jumps 10%
IIFL Finance shares rallied more than 10 percent after the Abu Dhabi Investment Authority (ADIA) picked up a 20 percent stake in its subsidiary IIFL Home Finance for Rs 2,200 crore.
The Abu Dhabi sovereign wealth fund will invest in a wholly-owned subsidiary, said IIFL Home Finance, which is among the largest affordable housing financiers with assets under management of Rs 23,617 crore.
Rupee
The rupee tumbled 11 paise to close at a fresh lifetime low of 77.85 (provisional) against the US dollar on Friday as a sell-off in domestic equities and stronger greenback overseas weighed on investor sentiment.
Persistent foreign capital outflows, elevated global crude oil prices, and risk-averse sentiments also impacted the domestic unit, forex traders said.
At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.87 against the US dollar. The local unit finally settled at its all-time low of 77.85, down 11 paise over its previous close of 77.74.
Global market
Shares were mostly lower in Europe and Asia on Friday ahead of the release of key US consumer inflation data, while US futures were little changed.
The latest report on the US consumer price index was due later in the day. Economists expect it to show inflation slowed a touch to 8.2 percent in May from 8.3 percent a month earlier.
Investors are hoping for signs inflation may have already peaked, Germany’s DAX lost 1.6 percent to 13,971.00 while the CAC 40 in Paris gave up 1.5 percent to 6,264.25.
Britain’s FTSE 100 slipped 1.2 percent to 7,390.48. The future for the S&P 500 was down less than 0.1 percent and that for the Dow industrials edged 0.1 percent lower.
