Sensex Falls Over 400 Points To Stall An 8-Day Bull Run
NDTV
Stock Market India: Equity benchmarks plunged on Friday, stalling an eight-day bull run and a record-breaking closing streak of six straight days.
Indian equity benchmarks plunged on Friday, stalling an eight-day bull run and a record-breaking closing streak of six straight days as investors took a breather and secured profits ahead of key US jobs report, which could give clues on the Federal Reserve's tapering of its aggressive rate hikes plan.
The BSE Sensex index fell 415.69 points, or 0.66 per cent, to close at 62,868.50, and the broader NSE Nifty index declined 116.40 points, or 0.62 per cent, to end at 18,696.10.
Still, the Nifty has risen 3.6 per cent over the last eight sessions and ended Friday with gains for a second straight week.
"Nifty futures outperformed their global peers and tested close to 19,000 levels this week. However, in the short term, it is showing clear signs of exhaustion, with laggard sectors like IT now moving up and banks underperforming," said Rudra Murthy BV, Research Head at Vachana Investments.
