Markets fall for 4th day, global risks sap investor confidence
Mumbai: The Sensex and Nifty racked up losses for the fourth straight session on Friday, mirroring a risk-off sentiment overseas as stubborn inflation and faltering global growth sapped investor confidence.
The 30-share BSE Sensex opened on the backfoot and stayed in the negative zone throughout the session, ending 360.78 points or 0.61 per cent lower at 58,765.58.
On similar lines, the broader NSE Nifty declined 86.10 points or 0.49 per cent to close at 17,532.05.
Bajaj Finserv was the top laggard in the Sensex pack, diving 3.45 per cent, followed by Maruti Suzuki which lost 2.39 per cent after the country's largest carmaker reported a 46.16 per cent decline in September sales, impacted by the global semiconductor shortage.
Bharti Airtel shed 2.22 per cent after the Department of Telecom (DoT) slapped a penalty of Rs 1,050 crore on the firm based on sector regulator Trai's recommendation five years ago.
Asian Paints, Bajaj Finance, HDFC, NTPC, ICICI Bank and TCS were among the other losers.
On the other hand, M&M, Dr Reddy's, UltraTech Cement, Sun Pharma, PowerGrid and Tata Steel were among the gainers, climbing as much as 3.05 per cent.
During the week, the Sensex plunged 1,282.89 points, or 2.13 per cent, while the Nifty declined 321.15 points or 1.79 per cent.
On the macroeconomic front, India's manufacturing sector activities improved in September as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions.
GST collection remained above the Rs 1 lakh crore-mark for the third month in a row at over Rs 1.17 lakh crore in September, raising expectations that second half of the year will post higher revenues.
Sectorally, BSE realty, telecom, teck, finance and IT indices ended up to 1.56 per cent lower on Friday, while consumer durables, metal, healthcare and basic materials settled with gains.
Broader BSE midcap and smallcap indices ended on a mixed note.
Meanwhile, international oil benchmark Brent crude fell 0.47 per cent to $77.94 per barrel.
The rupee snapped a five-session losing streak to end 11 paise higher at 74.12 against the US dollar.
Foreign institutional investors remained net sellers in the capital market on Thursday, offloading shares worth Rs 2,225.60 crore, as per exchange data.
