On the cues from global markets, there was a strong sell-off in the Bombay Stock Exchange on Friday, causing the Sensex to fall 136 points to close at 39,614.07. Infosys, ICICI Bank and Bharti Airtel lost the Sensex due to losses.
The Sensex, based on the 30 major stocks of the Bombay Stock Exchange (BSE), had a total volatility of 746 points on the day and ended at 39,614.07 points, down 135.78 points or 0.34 percent from the previous day. The National Stock Exchange (NSE) Nifty also fell by 28.440 points, or 0.24 per cent, to close at 11,642.40.
Bharti Airtel lost the most by four percent in the BSE Sensex. Maruti, Bajaj Finance, HUL, ICICI Bank and Kotak Bank also declined. In contrast, Tata Steel, NTPC, Sun Pharma, Nestle India, Reliance Industries, and TCS benefited.
S Ranganathan, head of research, LKP Securities, said the market had a lot of fluctuation during the business. There was a push for profitability in the shares of auto companies. However, the late surge in Reliance Industries shares provided some support to the market. Reliance recorded an increase before the second-quarter results were announced.
Market experts said that during the week the market sentiment appeared to be a pyre. On the one hand, there has been a growing concern in the case of the COVID-19 epidemic in European countries, while on the other hand there is uncertainty in the market given the presidential election in America.
Markets in Shanghai, Hong Kong, Seoul and Tokyo declined. On the other hand, the stock markets of Europe also started growing. In the international market, Brent crude prices rose by 0.58 percent to USD 38.48 per barrel.