Sensex falls over 300 points, Nifty below 16,500

Benchmark market indices S&P BSE Sensex and NSE Nifty 50 closed lower on Friday as they were dragged down by weakness in metal, financial and pharma stocks.

Indian shares ended lower on Friday, dragged by metals, pharmaceuticals, and financials, while the prospect of gradual reduction of monetary stimulus by the U.S. Federal Reserve further dented investor sentiment. The blue-chip NSE Nifty 50 index ended 0.71% lower at 16,450.50, while the benchmark S&P BSE Sensex closed 0.54% weaker at 55,329.32.