Key indices fall for 8th session
Benchmark Sensex declined nearly 200 points on Friday, extending its losing run to the eighth day due to persistent foreign fund outflows and weak quarterly earnings by corporates.
Mumbai: Benchmark Sensex declined nearly 200 points on Friday, extending its losing run to the eighth day due to persistent foreign fund outflows and weak quarterly earnings by corporates.
The 30-share BSE benchmark Sensex dropped 199.76 points or 0.26 per cent to settle at 75,939.21 with 21 of its constituents ending lower. During the day, it tanked 699.33 points or 0.91 per cent to 75,439.64. The NSE Nifty declined 102.15 points or 0.44 per cent to 22,929.25. In eight trading days to Friday, the BSE benchmark has tumbled 2,644.6 points or 3.36 per cent, and the Nifty slumped 810 points or 3.41 per cent. From the 30-share Sensex pack, Adani Ports dropped over 4 per cent. On the weekly front, the BSE bellwether gauge plunged 1,920.98 points or 2.46 per cent, and the Nifty declined 630.7 points or 2.67 per cent. “The risk-averse sentiment continues to rule investors’ minds as corporate earnings are significantly lower than the market expectations during the start of the year, especially for mid and small caps. Muted earnings trend, INR depreciation along with external factors like tariffs are expected to keep the sentiments weak in the near term, which could further push FIIs outflows. Volatility is expected to stay elevated until there is clarity on tariffs and a recovery in corporate earnings,” said Vinod Nair, head (research), Geojit Financial Services.
