Bears continued to hover on Indian markets on the last day of this week's trading session. In Friday's opening bell, Sensex fell by 285 points with an intraday low of 51,039.97, while Nifty 50 tumbled a little over 90 points with the day's low of 15,028.70. The benchmarks tracked weak global cues.
At around 09.30 am, Sensex was trading at 51,053.91 lower by 270.78 points or 0.53%. Nifty 50 was trading at 15,040.20 below 78.75 points or 0.52%.
Top gainers on Sensex were - HUL, Bharti Airtel, RIL, L&T and HCL Tech surging between 0.7-1.5%.
Top underperformers on the Sensex included ICICI Bank and Power Grid diving by 2.2% and 2.5%. Stocks like Axis Bank, Bajaj Auto, ONGC and Asian Paint plunged around in the range of 1-1.5%.
Other major stocks such as Maruti Suzuki, NTPC, SBI, TCS, Infosys, Titan, Ultratech Cement and Bajaj Finance dipped between 0.5-1%.
A broad-based sell-off was seen across sectoral indices with banking, auto, metal, pharma and IT stocks being the top laggards.
On BSE, in terms of sectoral indices, Bankex underperformed the most tumbling by 500 points, the Auto index slipped 355 points, Metal index down 263 points, Healthcare index lower by 133 points and IT index below 121 points.
Asian stocks witnessed a huge profit booking on Friday tracking weak US counterparts overnight. Higher long-dated bond yields and U.S. data which was underwhelming, has taken a toll on investors sentiments as concern emerges over faster economic recovery amid Coronavirus pandemic.
Japan's Nikkei 225 dived 330 points, while Hang Seng records 275 points downside. Australia ASX All Ordinaries and Taiwan TSEC 50 Index slipped by 101 points and 130 points respectively. While South Korea's KOSPI index dived nearly 1%, however, the Shanghai SE Composite Index traded marginally lower.
On Thursday, the U.S. Treasury yields are at over one-year high of around 1.3%, while Germany and British 10-year yield were at 9-month and a 10-month high.
Moreover, the U.S. housing dropped 6% in January this year, which is the first decline in five months.
At states, overnight, the Dow dipped by 0.38%, while the S&P 500 shed 0.44%, and the Nasdaq Composite slipped by 0.72%
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