Photo has been used for representation only. file | Photo Credit: Paul Noronha
Equity benchmarks Sensex and Nifty declined nearly 1% each on Friday, tracking a weak trend in overseas markets amid a bullish tone from global central banks.
The 30-share BSE Sensex fell 461.22 points, or 0.75%, to close at 61,337.81. During the day, it fell 506.5 points, or 0.81%, to 61,292.53.
The broader NSE Nifty settled at 18,269, down 145.90 points or 0.79%.
From the Sensex pack, Mahindra & Mahindra, Asian Paints, Dr Reddy’s, Tata Consultancy Services, State Bank Of India, Wipro, PowerGrid and Titan were the major laggards.
The winners included Hindustan Unilever, HDFC Bank and Nestle.
Elsewhere in Asia, bourses in Seoul, Tokyo and Shanghai closed lower, while Hong Kong ended in the green.
Equity exchanges in Europe were trading in the red in mid-session deals. On Thursday, the US markets closed with a heavy fall.
“Global markets headed their way as the ECB (European Central Bank) and BoE (Bank of England) followed the Fed in raising policy rates by half a percentage point while maintaining a bullish tone on inflation.
Vinod Nair, Head of Research, Geojit Financial Services, said, “The aggressiveness of central banks in tackling inflation has raised concerns about the health of the global economy. Despite efforts to cover the damage, lack of global support pushed the indices into negative territory.” I pushed back.”
International oil benchmark Brent crude fell 2.25% to $79.38 per barrel.
Foreign institutional investors (FIIs) sold shares worth Rs 710.74 crore on Thursday, according to exchange data.