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share market | Sensex crashes 390 points due to selling in IT stocks

Sensex

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Mumbai: Domestic stock markets declined on Friday and the BSE Sensex lost around 390 points. Selling in information technology, technology and energy stocks dragged down the market despite a positive trend in global equities. Besides, rising crude oil prices and persistent capital outflows also weighed on sentiment. The 30-share BSE Sensex got off to a good start. But later it closed at 62,181.67, down 389.01 points, or 0.62 percent, due to selling pressure.

Similarly, the National Stock Exchange’s Nifty also closed at 18,496.60 points, down 112.75 points, or 0.61 percent. HCL Tech was the biggest loser in the Sensex pack, down 6.72 per cent. Apart from this, Tech Mahindra, Infosys, Wipro, TCS and Reliance Industries also declined. On the other hand, gainers included Nestle India, Titan, Sun Pharma, Dr Reddy’s, IndusInd Bank and ITC.

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In other Asian markets, Japan’s Nikkei, Hong Kong’s Hangseng, China’s Shanghai Composite and South Korea’s Cospi were in profit. There was a slight rise in the major markets of Europe in early trade. The US market was up on Thursday. Meanwhile, international oil benchmark Brent crude rose 0.05 per cent to $76.19 per barrel. According to stock market data, Foreign Institutional Investors (FIIs) remained net sellers. He sold shares worth Rs 1,131.67 crore on Thursday. (agency)

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