Sensex sheds 187 points to snap winning streak, telecom stocks fall
After starting on a positive note, the benchmark BSE Sensex fell over 187 points to end 0.53% lower on Friday, on weak global cues as investors eyed the outcome of US-China trade talks, ahead of the US jobs report.
The 30-share index, after opening 103.41 points higher, turned negative on profit-booking to end at 34,915.38, 187.76 points or 0.53% lower, while the broader NSE Nifty plunged 61.40 points to 10,618.25. The BSE gauge had lost 73.28 points in the previous session.
Top laggards were Sun Pharma, Yes Bank, Bajaj Auto, ITC, Axis Bank and Coal India, falling as much as 2.95%.
Top gainers included Adani Ports, HUL, HDFC Bank, Powergrid, IndusInd Bank and ICICI Bank, with gains as much as 2.87%.
Brokers said, a weak trend in other Asian bourses as investors watched the outcome of trade talks between the US and China, ahead of the April employment data, to be released later in the day, influenced sentiments here.
Market participants booked profits at higher levels in opening trade, they added.
Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 148.42 crore and domestic institutional investors (DIIs) sold shares worth Rs 578.92 crore in Thursday’s trade, provisional data showed.
Among other Asian markets, Hong Kong’s Hang Seng shed 0.74%, while Shanghai Composite Index lost 0.26% in early trade on Friday. Financial markets in Japan are closed for a four-day holiday weekend.
The US Dow Jones Industrial Average closed 0.02% higher in Thursday’s trade.