DALAL Street wilted under intense selling pressure on Friday, mirroring a meltdown in world equities as investors braced for slowing global growth amid policy tightening by central banks. A sharp drop in the rupee amid a spurt in crude oil prices and unabated foreign fund outflows added to the woes.
The 30-share BSE Sensex dived 866.65 points or 1.56 per cent to finish at 54,835.58. During the day, it tanked 1,115.48 points or 2 per cent to 54,586.75. Similarly, the broader NSE Nifty tumbled 271.40 points or 1.63 per cent to settle at 16,411.25. Bajaj Finance was the top laggard among the Sensex components, skidding 4.91 per cent, followed by Axis Bank, Bajaj Finserv, Nestle, Wipro, HDFC, Infosys, HDFC Bank and UltraTech Cement. In contrast, Tech Mahindra, PowerGrid, ITC, SBI, NTPC and Sun Pharma mustered gains of up to 2.21 per cent. On a weekly basis, the Sensex slumped 2,225.29 points or 3.89 per cent, while the Nifty lost 691.30 points or 4.04 per cent. In the broader market, the BSE smallcap gauge fell 2.10 per cent and midcap dropped 2.06 per cent.