Sensex Drops Over 450 Points, Nifty Below 17,150 On Broad-Based Selling Pressure
NDTV
The Sensex fell as much as 303 points and Nifty 50 index touched an intraday low of 17,202.
The Indian equity benchmarks fell sharply on Friday on the back of weak cues from other Asian markets amid a broad-based selloff. The Sensex fell as much as 471 point and Nifty 50 index dropped below its important psychological level of 17,150. Asian stock markets and the U.S. dollar struggled for traction on Friday after a rush of central bank meetings underlined the growing threat posed by a spike in global inflation, while fears about the omicron variant of COVID-19 added to a cautious mood.
As of 9:42 am, the Sensex was down 335 points at 57,565 and Nifty 50 index declined 109 points to 17,140.
Japan's Nikkei was 0.85 per cent lower in early trading on Friday after rising 2.13 per cent the day before in its best day in nearly seven weeks.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.2 per cent. It is heading for a weekly decline of 1.7 per cent, and at 621.93 is only just above the year low of 615.99 set last week.
