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The benchmark equity indices fell by close to a percentage on Friday, rounding up a week of disappointing market action.
The Nifty, which opened in the green in the morning, started falling during mid-day trade, ending the session 68 points lower at 8,224.10. The Sensex lost over 251 points, closing at 27,350.68.
The broader market took major hits as well, with the BSE mid-cap index down 131 points to 10,108.60 while the small-cap space fell by over 168 points to 11,068.48.
All major sectoral indices were down on Friday, with oil and gas, capital goods and realty losing the most. The healthcare sector was the only bright spot in an otherwise dreary market, with Torrent, Aurobindo, Ipca Labs and Natcopharma all moving up.
Among the biggest gainers on the BSE were Amara Raja Batteries, which moved up nearly five per cent, Emami (up 3.7 per cent) and Jubilant Foodworks Ltd, which gained nearly four per cent. Among Friday’s biggest losers were Jet Airways (down nine points), Sun TV (down 8.55 points) and Suzlon Energy Ltd (down over seven points).
Volatility was pronounced during the session, with India Vix at 13.7525, up 7.67 per cent. Gold and crude oil fell further on Friday, while the rupee fell 0.08 per cent against the dollar.
Jayant Manglik, President – Retail distribution, Religare Securities, said, "The domestic markets slipped below the crucial support levels mainly due to cautiousness among the participants ahead of the two important macro-economic data: CPI inflation and IIP. We shall be seeing participants reacting on the macro-economic numbers in early trade on Monday and that would set the tone for the rest of the day.”
European markets
European shares fell on Friday, with renewed declines in the prices of oil hitting energy stocks, while political concerns over Greece also pegged back equities.
Asian markets
The dollar rose on Friday after upbeat US data suggested weaker oil prices are providing additional momentum for the American economy, which also underpinned Asian shares.
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