Markets decline for 2nd day in row on selling in IT & banking stocks

Mumbai: Benchmark indices Sensex and Nifty declined for a second day in a row on Friday due to selling in IT and banking shares amid foreign fund outflows and weak trends in the US markets.

The 30-share BSE Sensex fell by 106.62 points or 0.16 per cent to settle at 66,160.20. During the day, it declined by 388.17 points or 0.58 per cent to 65,878.65.

The NSE Nifty declined 13.85 points or 0.07 per cent to finish at 19,646.05.

From the Sensex pack, Bajaj Finserv, HDFC Bank, Tata Motors, HCL Technologies, Tata Consultancy Services, Axis Bank, Infosys, IndusInd Bank, Tech Mahindra and Maruti were the major laggards.

NTPC, Power Grid, Mahindra & Mahindra, JSW Steel, Bajaj Finance, ITC and Reliance Industries were among the gainers.

The rupee plunged 26 paise to close at 82.18 against the US dollar on Friday amid renewed foreign fund outflows and negative trends in domestic equity markets. Meanwhile, global oil benchmark Brent crude was trading 0.42 per cent lower at $83.89 a barrel.