The Indian equities markets witnessed heavy selling pressure for the fourth consecutive day on Friday with benchmark Sensex slumping 427 points.
After losing 1,844 points in the previous three sessions, the Sensex opened the trading on Friday over 400 points down at 59,039.37 points and tumbled to a low of 58,620.93 points.
The 30 stock S&P BSE Sensex of the Bombay Stock Exchange closed at 59,037.18 points, which is 427.44 points or 0.72 per cent lower from its previous day’s close at 59,464.62 points. The benchmark Sensex has lost 2271 points in the last four days of trading. The index had slipped 634.20 points or 1.06 per cent on Thursday.
The broader Nifty 50 of the National Stock Exchange closed at 17,617.15 points, which is 139.85 points or 0.79 per cent lower from its previous day’s close at 17,757 points. The Nifty 50 slipped to a low of 17,485.85 points in the intra-day. The highest level for Nifty during the day was 17,707.60 points.
There was heavy selling pressure in IT, metal, financial and banking stocks. Bajaj Finserv tumbled 5.37 per cent to Rs 16,333.05. Tech Mahindra slumped 4.44 per cent to Rs 1594.15. Tata Steel dipped 3.18 per cent to Rs 1169.05
IndusInd Bank 2.77 per cent down at Rs 853.95; L&T 2.38 per cent down at Rs 1954.55; Axis Bank 2.22 per cent down at Rs 712.60; Bajaj Finance 2.11 per cent down at Rs 7373.05; Infosys 2.09 per cent down at Rs 1786.05 and Dr Reddy’s Laboratories 2.06 per cent down at Rs 4498.50 were among the major Sensex losers. The index heavyweight Reliance Industries, which is scheduled to announce its Q3 results later in the day, closed with marginal loss of 0.03 per cent at Rs Rs 2478.1o
Hindustan Unilever surged 2.68 per cent to Rs 2322.20 a day after the company announced its financial results. Hindustan Unilever on Thursday reported better than expected Rs 2,243 crore net profit for the third quarter of 2021-22, which is 16.76 per cent higher when compared with Rs 1,921 crore profit recorded during the corresponding quarter of last fiscal. Maruti Suzuki rose 1.89 per cent to Rs 8188.60. HDFC 1.02 per cent higher at Rs 2595; Nestle India 0.95 per cent higher at Rs 18936.05; HDFC Bank 0.73 per cent higher at Rs 1520.70 and TCS 0.18 per cent higher at Rs 3834.85 were among the major Sensex gainers.