Sensex hits 2-week low, tanks 248 pts to close at 25,638

Stock markets fell for a third-straight day, with the benchmark BSE Sensex declining around 200 points in morning trade on Friday.

The benchmark BSE Sensex tumbled over 248 points on Friday to settle at a two-week low of 25,638.11, as the Indian shares ended lower for the third straight session, tracking a global rout after the ECB stimulus fell short of expectations.

The rupee woes against the dollar continued as it fell to 67.01, a two-year low, which along with sustained capital outflows kept investors on the edge.

After resuming lower, the 30-share BSE Sensex continued its slide and hit a low of 25,623.71, before settling down by 248.11 points, or 0.96%, at 25,638.11 -- a level last seen on November 18.

The Sensex has now lost 531.30 points in the last three days.

The broader NSE Nifty cracked below yet another crucial 7,800-mark by falling 82.25 points, or 1.05%, to close at 7,781.90. It moved between 7,775.70 and 7,821.40 intra-day.

For the week, the Sensex and the Nifty retreated 490.09 points, or 1.87%, and 160.80 points, or 2.02%, respectively.

Globally, Asia and Europe fell after disappointment over the European Central Bank’s stimulus decision.

HDFC Ltd and M&M tanked the most plunging 2.42% each.

Out of the 30-share Sensex constituents, 26 ended lower.

TPC, ITC, ICICI Bank, Tata Motors and RIL too lost ground.

Sun Pharma was a bright spot, which soared 4.02% after one of its subsidiaries received USFDA approval to manufacture and market generic version of Novartis’ Gleevec.

Shares of Bharti Airtel, Coal India and Tata Steel too gained.

Sector-wise, the BSE power index bled the most by falling 1.78%, followed by realty, FMCG, auto and banking.

The broader markets saw selling pressure too, with the BSE mid-cap index ending 1.05 per down and the small-cap easing 0.64%.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 611.43 crore on Thursday, as per provisional data released by stock exchanges.