There was a brake on the stock market boom, Sensex fell by 793 points and closed at 74,244.
शेयर बाजार में कोहराम, सेंसेक्स 793 अंक डुबकी लगा हुआ बंद
BSE Sensex fell nearly 800 points on Friday amid heavy selling in major stocks. Sensex closed at 74,244.90, down 793 points or 1.06 per cent, and Nifty closed at 22,519.40, down 234 points or 1.03 per cent. Almost all sectoral indices closed in the red and 60 per cent of shares saw a decline. Among the stocks which fell the most, Sun Pharma was the top loser with a fall of 4 percent and Maruti with a fall of 3 percent.
Vinod Nair, head of research at Geojit Financial Services, said the Indian market remained subdued amid concerns over delay in rate cut in the US, rising geopolitical tensions in the Middle East leading to rising oil prices and weak fourth quarter earnings estimates. Investors are questioning the feasibility of three US Fed rate cuts this year, dragging down the performance of emerging markets. Meanwhile, European markets performed well, Nair said. The ECB kept policy rates intact but hinted at a rate cut soon. Rupak Dey, Senior Technical Analyst, LKP Securities, said that Nifty slipped down, the market sentiment looks negative in the coming days. However, its support is seen at 22,500.
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