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Sensex closes 286 points lower, Nifty below 10,500; PNB falls for third day

BSE Sensex closed 0.84% lower, or 286.71 points down at 34,010.76. The wider NSE Nifty 50 had slid back to 10,452.30, 0.88% lower, after crossing the 10,600 - mark earlier in the day.

business Updated: Feb 16, 2018 17:19 IST
Press Trust of India, Mumbai
The benchmark BSE Sensex advanced by over 196 points in early trade on Friday(AFP Photo)

Giving up early gains, benchmark BSE Sensex tumbled 287 points to end at 34,010.76 on Friday, on widespread selling in auto, metal, PSU, capital goods, realty and banking counters.

Shares of Punjab National Bank continued to reel under selling pressure for the third consecutive day after the detection of a massive Rs 11,400-crore fraud. It ended lower by 2.10%.

The BSE 30-share barometer, after a robust start, advanced to a high of 34,508.24 in morning trade.

However, it succumbed to across-the-board profit-booking in the later part of the session to touch a low of 33,957.33, before settling 286.71 points, or 0.84% down at 34,010.76.

The NSE Nifty 50 settled the day 93.20 points or 0.88% lower at 10,452.30, after shuttling between 10,612.90 and 10,434.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 240.29 crore, while domestic institutional investors bought shares worth Rs 49.92 crore on Friday, as per provisional data.

Sentiment turned weak after the country’s trade gap soared to $16.3 billion in January, on account of a 26.1% increase in imports to $40.68 billion due to increased inbound shipments of crude oil, as per data released by the commerce ministry.

India’s exports grew by 9% to $24.38 billion in January, helped by a healthy growth in shipments of chemicals, engineering goods and petroleum products.

First Published: Feb 16, 2018 10:22 IST