Markets End Five-Day Rally As Sensex Drops More Than 600 Points

Sensex and Nifty fell on Friday after a five-day rally as investors pared exposure to banking, financial, and consumer durable firms amid mixed trends in global markets.

The 30-share BSE Sensex plummeted 609.28 points or 0.82 percent to 73,730.16. During the day, it dropped 722.79 points or 0.97 percent to 73,616.65.

The NSE Nifty slid 150.40 points or 0.67 percent to 22,419.95.

Bajaj Finance, Bajaj Finserv, Induslnd Bank, Nestle India, Mahindra & Mahindra, Avenue Supermarts, and Kotak Mahindra Bank were the top laggards.

Among the gainers were Tech Mahindra, IRFC, Havells India, Divi’s Labs, Vedanta, LTIMindtree, Interglobe Aviation, Samvardhana Motherson, and Bajaj Auto.

In Asian markets, Shanghai, Tokyo, South Korea, Hong Kong, Taiwan, and Malaysia all finished higher.

European stocks were trading higher.

US markets concluded lower on Thursday.

Brent crude gained 0.31 percent to USD 89.29 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 2,823.33 crore on Thursday.

On Thursday, The Sensex jumped 486.50 points or 0.66 percent to 74,339.44, while the Nifty moved 167.95 points or 0.75 percent to 22,570.35.

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