Mumbai: Extending its losses for the fourth straight session, fairness benchmark Sensex slipped under the 51,000-mark by tumbling 435 factors on Friday, monitoring losses in ICICI Financial institution, Axis Financial institution and SBI.
The 30-share BSE index ended 434.93 factors or 0.85 p.c decrease at 50,889.76.
Equally, the broader NSE Nifty gave up the 15,000 stage, dropping 137.20 factors or 0.91 p.c to 14,981.75.
ONGC was the highest loser within the Sensex pack, shedding round 5 p.c, adopted by SBI, Axis Financial institution, ICICI Financial institution, Bajaj Auto and Maruti.
Alternatively, IndusInd Financial institution, HUL, Dr Reddy’s, NTPC and Reliance Industries had been among the many gainers.
In accordance with Binod Modi, Head-Technique at Reliance Securities, home equities fell sharply as revenue reserving throughout the sectors dragged the benchmark indices.
Financial institution and auto Indices corrected sharply by 2-Three p.c, whereas PSU financial institution index witnessed steeper correction by over 5 p.c after registering back-to-back features in final 5 buying and selling days.
“A pullback in broad index was fairly seen in final three days. Nevertheless, buyers continued to point out curiosity in midcap and smallcap shares given improved earnings outlook,” he added.
Elsewhere in Asia, markets in Tokyo ended on a detrimental word, whereas Shanghai, Hong Kong and Seoul closed with features.
Inventory exchanges in Europe had been additionally buying and selling within the optimistic terrain in mid-session offers.
In the meantime, the worldwide oil benchmark Brent crude was buying and selling 1.24 p.c decrease at USD 63.14 per barrel.