Sensex And Nifty Falls By 1% As US Inflation Statistics Play Spoilsport

Benchmark equity indices Sensex and Nifty dropped by 1 percent on Friday as investors took profits following a recent record-breaking run amid weak Asian markets trend.

The 30-share BSE Sensex dipped 793.25 points or 1.06 percent to 74,244.90. During the day, it plummeted 848.84 points or 1.13 percent to 74,189.31.

The NSE Nifty sank 234.40 points or 1.03 percent to 22,519.40.

Sun Pharmaceutical, Adani Power, Maruti Suzuki, Zydus, Interglobe Aviation, Ambuja Cements, Varun Beverages, Power Grid Corp, and Titan were the top laggards.

Among the gainers were IRCTC, Vedanta, Bharat Electronics, HAL, ABB India, Samvardhana Motherson, and Tata Power.

In Asian markets, Tokyo ended higher, while Shanghai, South Korea, and Hong Kong concluded lower.

European markets were trading in green.

Wall Street finished mainly up on Thursday.

Brent crude gained 0.95 percent to USD 90.26 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 2,778.17 crore on Wednesday.

On Wednesday, equity benchmark indices had a record-breaking rally, the Sensex soared 354.45 points or 0.47 percent to 75,038.15, while the Nifty moved 111.05 points or 0.49 percent to 22,753.80.

Stock markets were closed on Thursday in observance of Eid-Ul-Fitr.

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