Sensex crashes 1,000 pts as macro risks pile up; logs weekly loss
India Today
The Sensex crashed over 1,000 points while the Nifty slumped to the 16,200-level on Friday.
The Sensex nosedived over 1,000 points while the Nifty slumped to the 16,200-level on Friday as investors dashed to safer assets as hardening crude oil prices fanned inflation fears and triggered a global sell-off.
With unrelenting foreign fund outflows, the rupee plunged to a fresh lifetime low against the US dollar, further denting sentiment.
The 30-share BSE Sensex opened weak and stayed in the negative territory throughout the session. It finally ended 1,016.84 points or 1.84 per cent lower at 54,303.44.
Similarly, the broader NSE Nifty plunged 276.30 points or 1.68 per cent to 16,201.80.
Investors lost Rs 3.11 lakh crore in Friday's session, with the market capitalisation of all BSE-listed companies falling to Rs 2,51,84,358.86 crore.
Kotak Mahindra Bank was the top loser in the Sensex pack, skidding 3.96 per cent, followed by Bajaj Finance, HDFC, Reliance Industries, Wipro, Tech Mahindra, Infosys and Tata Steel.
On the other hand, Asian Paints, Dr Reddy's, UltraTech Cement, HUL, Titan, Maruti, Nestle India and NTPC finished with gains of up to 0.78 per cent.
