Benchmark indices Sensex and Nifty ended with losses for the first time in six days as a selloff in the US markets overnight dented investor sentiment. US stocks fell after its economy grew at a slower pace in the first quarter but inflation remained stubbornly high, dimming optimism around 'soft landing. The Dow Jones fell 1 per cent on Thursday.
The 30-share BSE Sensex declined 609 points or 0.82 per cent to settle at 73,730.16. During intraday, it lost as much as 723 points or 0.97 per cent to 73,616.65. A positive opening in the European market and an uptick in the US futures market helped the domestic markets recoup some losses.
Rising global crude prices, a depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said. Foreign portfolio investors (FPIs) sold shares worth ₹3,405 crore, while domestic institutions provided buying support to the tune of 4,357 crore.
The Nifty 50 index declined 150 points, or 0.67 per cent, to 22,420.
Despite Friday's losses, the BSE benchmark advanced 641.83 points or 0.87, and the NSE Nifty climbed 272.95 points or 1.23 per cent for the week.
This story is from the April 27, 2024 edition of Business Standard.
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This story is from the April 27, 2024 edition of Business Standard.
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