Sensex Declines 386 Points Due To Poor Global Cues

On Friday, the Sensex fell 386 points due to unfavorable global cues, and concerns over the quarterly financial performance of IT giants.

The broader Nifty dipped in early trade, while Asian markets slumped on fears of higher interest rates, despite a small increase in the latest US inflation figures.

The 30-share BSE Sensex fell more than 341 points, or 0.51 percent, to 66,067.31 points in early trade. Twenty stocks in the index, including Infosys and Axis Bank, fell more than 2 percent.

In the meantime, ten Sensex companies were up.

The NSE Nifty 50 fell 84.25 points, or 0.43 percent, to 19,709.75 points, with as many as 27 index members trading in the red.

Key Asian indices were down, with Hong Kong’s Hang Seng Index falling more than 2 percent.

The US and European markets closed in the red on Thursday, with inflation figures in the US coming in slightly higher than predicted. The Sensex and Nifty have also fallen.

According to data exchange, foreign institutional investors (FIIs) were net sellers on Thursday, selling shares worth Rs 1,862.57 crore.

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