At the stock markets, the Sensex at the Bombay Stock Exchange slumped 889 points, or 1.5 percent, to end at 57,012, today. The Nifty at the National Stock Exchange slipped 263 points, or 1.5 percent, to 16,985.
Benchmark stock market indices plunged sharply on Friday, marking the end to a volatile week. Benchmark indices S&P BSE Sensex and NSE Nify 50 had barely managed to break a four-session losing streak on Thursday, but failed to keep the momentum today.
At Friday’s closing, the Sensex ended barely above 57,000 as it fell 889.40 points or 1.54 per cent, while the Nifty 50 ended below 17,000 after shedding 200 points. The India VIX, which is the gauge that measures market volatility, rose nearly 3 per cent as several factors continue to weaken investor sentiment.
The BSE Sensex tanked to a low of 56,951, and evenutally settled with a heavy loss of 889 points at 57,012. In the process, the BSE benchmar ended the week with a significant loss of 3 per cent (1,775 points).
The NSE Nifty slumped to a low of 16,966, and finally ended with a loss of 263 points at 16,985.
Index heavyweight Reliance Industries plunged 2.6 per cent to Rs 2,341, and alone accounted for a loss of 176 points on the BSE benchmark. That apart, the HDFC twins were the other major dragggers (223 points loss).