Sensex Closes Weak After Shedding 385 Pts

On Friday, BSE Sensex closed the week after making a big loss of 385.61 points at 17,349.07, whereas the broad-based NSE Nifty ended at 5,110.75, down 81.05 points.

The 30-share benchmark index, Sensex, opened with a negative gap of 219.06 points at 17,515.62 due to weak global cues. Afterward, the stock index traded deep into the negative zone owing to heavy selling pressure in frontline stocks. Lastly, the Sensex after touching an intraday low of 17,294.73 closed on a dull note.

All sectors traded pessimistically.

For the week ended February 9, inflation rate climbed up to 4.35% as compared to 4.07% in the previous week.

Midcap Index lost 74.48 points, whilst Small Cap Index fell 97.58 points.

Asian markets slumped on Friday (Feb 22), following a rejection in U.S. manufacturing that renewed worries, which the world’s biggest financial system is nearing a recession.

The stock market experienced 953 advancements as against 1,773 declinations.

Among the sectoral indices, BSE Auto slipped 1.95%, Metal declines 0.43%, Power dipped 1.57%, BSE Realty dropped 0.80%, IT sank 3.06% and BSE Bankex lost 3.14%.

The major gainers at the Sensex included Cipla, which added 5.44% at Rs 198.60, Hindalco that climbed 1.35% to Rs 192.00 and Maruti ascended 0.43% to finish at Rs 766.65.

The major losers’ at the BSE Sensex were Bajaj Auto that lost 4.78% at Rs 2,295.60, HDFC Bank fell more than 4% to Rs 1,474.95 and Satyam declined 4.23% at Rs 438.80. ICICI Bank, Infosys, SBI, RIL, HDFC, REL, Wipro, Ambuja Cement and BHEL also slipped.

Reliance Power topped the turnover chart with Rs 5,242.8 million followed by Reliance Capital with Rs 2,000.0 million.

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