Mkts fall for second day on FII selling; RIL major drag

Sensex declines 55.47 pts, Nifty dips 51.15 points

Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank and State Bank of India.

Benchmark BSE Sensex declined by 55.47 points or 0.07 per cent to settle at 79,486.32. During the day, it tanked 424.42 points or 0.53 per cent to 79,117.37. The NSE Nifty dipped 51.15 points or 0.21 per cent to 24,148.20.

From the 30-share Sensex pack, Asian Paints, Tata Steel, State Bank of India, Reliance Industries, NTPC, Tata Motors, ICICI Bank and IndusInd Bank were the biggest laggards.

Mahindra & Mahindra, Titan, Tech Mahindra, Infosys, Nestle and Hindustan Unilever were among the gainers.

Foreign institutional investors (FIIs) offloaded equities worth Rs 4,888.77 crore on Thursday, according to exchange data.