Sensex fell 440 points and the ended below the key 15,000-level on Friday amid weak global cues. While Sensex lost 440 points to 50,405, Nifty ended 142 points lower at 14,938. Intra-day, the index swung around 726 points on concerns over rising US bond yields.
On Nifty, 38 stocks ended lower against 12 closing higher today. On Sensex, 21 stocks ended in the red. IndusInd Bank, Wipro, Tata Motors, UPL, Hindalco, Tata Steel, SBI and PowerGrid shares were the top losers falling up to 4.79%.
ONGC, Maruti and Kotak Bank were the top Sensex gainers rising up to 1.95%.
On Thursday, Sensex plunged 598 points to end below the key 51,000-level and Nifty managed to hold 15,080 after suffering losses through the day. The sell-off in market came today due to profit booking in financials and IT stocks and sell-offs in global equities as US bond market turmoil continued to rattle investors.
BSE mid cap index lost 396 points and BSE small cap index fell 318 points to 20,587 and 20,936, respectively. In last two sessions, Sensex has lost 1,039.33 points or 2.02 per cent and the Nifty has lost 307.5 points or 2.01 per cent.
However, on a weekly basis, Sensex gained 1,305.33 points or 2.65 per cent and Nifty added 408.95 points or 2.81 per cent.
Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas said," Nifty opened gap down & witnessed consolidation throughout the day. In terms of the Fibonacci retracement, it retraced 50% of the recent rise. The hourly chart shows that the consolidation in the last couple of sessions has taken form of a bullish Wedge pattern. From the lower end of the pattern & the Fibonacci level, the index attempted recovery towards the end of the session. Going ahead, 15000-15050 will be the immediate hurdle zone to watch out for. Once that gets taken out, the index will be set to test the swing high of 15273. On the other hand, 14860-14800 will act as a crucial support zone for the index."
Banking and metal stocks led the losses with BSE bankex and metal indices sliding 546 points and 306 points, respectively. Bank Nifty too fell 574 points to 35,228 in trade today.
Foreign investors sold equities worth Rs 233 crore on a net basis in Indian capital markets on Thursday, according to NSE data. Market cap of BSE-listed firms fell to Rs 209.72 lakh crore today. Market breadth was negative with 1010 stocks rising against 1975 shares falling on BSE. Total 144 stocks were unchanged.
Among sectoral indices, 17 closed in the red and two indices in the green on Friday.
Vinod Nair, Head of Research at Geojit Financial Services said, "Domestic markets echoed the global sentiments led by consolidation in the global market. Confusion persists in the global market ahead of the FED policy meet, as the market expects confirmation on maintaining its super accommodative stance in a rising bond yield market. Additionally, FED's measures to maintain the interest rate low & high liquidity will also provide relief to the market sentiment".
World shares fell Friday after surging US bond yields renewed selling pressure on high-flying technology companies.
European shares opened lower, with the DAX in Germany down 0.8% at 13,938.31. Britain's FTSE shed 0.9% to 6,592.69. The CAC 40 in Paris lost 1% to 5,772.79.
Japan's Nikkei 225 lost 0.2% to 28,864.32, while the Hang Seng in Hong Kong gave up 0.5% to 29,098.29. South Korea's Kospi shed 0.6% to 3,026.26 while the S&P/ASX 200 sank 0.7% to 6,710.80.
On Thursday, the S&P 500 fell 1.3% to 3,768.47, its third straight loss.
The Dow Jones Industrial Average lost 1.1% to 30,924.14. The Nasdaq composite dropped 2.1%, to 12,723.47 in a pullback that knocked the tech-heavy index into the red for the year.