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NEW DELHI: On Friday morning, the equity markets cracked once again, signalling that the Street remains volatile despite the 300-point gain the BSE index made yesterday.
Sensex lost 563 points in early trading to hit the low of 33,849.65. The benchmark index pared some losses but is still trading below the psychological mark of 34,000. The broader 50-share NSE Nifty was also down by almost 1.5 per cent as it got dragged under 10,500.
At 9.45 am, Sensex and Nifty were respectively 457 and 139 points below previous closing.
On Thursday, Sensex had snapped a seven day losing streak which saw the index tank by more than 2,200 points. But an overnight bloodbath in Dow Jones brought back negative sentiments among the investors. In overnight trade, the Dow Jones Industrial Average index had plunged 1,032.89 points, or 4.15 per cent, to close at 23,860.46. Among Asian bourses, Japan’s Nikkei made gains wjile South Korea’s Kospi fell 2.3 per cent.
Back home, ICICI Bank dropped the most by 2.75 per cent, followed by ITC 1.9 per cent, HDFC 1.85 per cent, Axis Bank 1.66 per cent and Larsen and Toubro 1.6 per cent.
Infosys, TCS, Reliance, HDFC BankKotak Bank, SBI IndusInd Bank Hindustan Unileverand Bharti Airtel also dropped up to 1.5 per cent.
All sectoral sub-indices with the exception of Nifty Metal were trading in the red as every eight out of ten stocks were losing on Friday morning.
Apart from Tata Steel, Coal India and Lupin, no major scrip was making gains.