Mumbai, Aug 11 (IANS) The key Indian equity indices — the BSE Sensex and the NSE Nifty50 — plunged for the fifth consecutive session on Friday, dragged lower by intense selling activities in metal, automobile and banking stocks along with negative global cues.
According to market observers, the key indices provisionally closed with losses of more than 1 per cent each as heavy selling in individual index heavyweights like State Bank of India, Reliance Industries, Mahindra & Mahindra and Laresen & Toubro among others hampered investors’ risk-taking appetite.
At 3.30 p.m., the Nifty50 declined by 109.45 points, or 1.11 per cent, to provisonally close the day’s trade at 9,710.80 points.
At one point, the Nifty50 of the National Stock Exchange (NSE) fell to trade below the psychologically important 9,700-mark, which was breached for the first time on June 6.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,355.92 points, closed at 31,213.59 points — down 317.74 points, or 1.01 per cent, from its previous close at 31,531.33 points.
The Sensex touched a high of 31,379.20 points and a low of 31,128.02 points during the intra-day trade.
The BSE market breadth was bearish — with 1,530 declines and 1,000 advances.
On Thursday, the benchmark indices were pulled lower by negative global cues, a weak rupee and heavy selling pressure.
The NSE Nifty50 closed lower by 87.80 points, or 0.89 per cent, at 9,820.25 points, while the Sensex closed at 31,531.33 points — down 266.51 points, or 0.84 per cent.