Stock prices dipped and rupee moved down against the dollar on Friday on global cues as the world markets were down with growth concerns. Further, lack of funds inflow from foreign institutional investors (FIIs) precipitated the fall.
The rupee closed at 61.35 a dollar compared to its previous close of 61.05 on Thursday.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) dipped by 339.90 points or 1.28 per cent to close at 26297.38. However, the better-than-expected financial results from the information technology major, Infosys lifted the markets from a low of 26261.61.
Among the broader indices BSE 100 lost 1.31 per cent, BSE 200 (1.32 per cent) and BSE 500 (1.31 per cent). The mid-cap and small-cap stocks also lost at 1.38 per cent and 1.12 per cent respectively.
IT stocks gain Except information technology stocks which gained 2.29 per cent and technology stocks (1.17 per cent), all other sectoral indices ended in the red with metal losing the most at 4.11 per cent followed by auto (2.78 per cent), FMCG (2.56 per cent) and banks (1.80 per cent).
On the National Stock Exchange (NSE), the 50-share Nifty closed at 7859.95 with a loss of 100.60 points or 1.26 per cent.
“Markets are certainly tired and the momentum is broken. Even the brilliant result from Infosys is not enough to keep the market going. We need more such results from different sectors to bring back momentum,” said Arun Kajriwal, a leading stock market analyst.
Trading holiday “With Wednesday being a trading holiday, on account of elections in Maharashtra and Haryana, momentum will get broken mid-week,” said Mr. Kejriwal, adding, “the driver thereafter could be exit polls for these two states.”
