Sensex, Nifty Fall Over 1% Amid Heavy Selling In Banking, Financials

Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains.

Equity benchmarks Sensex and Nifty plunged over 1 per cent for a second straight session on Friday dragged down by heavy selling in banking, financials, and oil stocks amid foreign fund outflows.

Massive selling in the Adani group stocks also added to the overall bearish trend.

The 30-share BSE benchmark tanked 874.16 points or 1.45 per cent, its biggest single day slide in more than a month, to settle at 59,330.90. During the day, it plunged 1,230.36 points or 2.04 per cent to 58,974.70.

The broader NSE Nifty fell 287.60 points or 1.61 per cent to end at 17,604.35, marking its worst single-day fall since December 23, 2022.