After a day of gains, the Bombay Stock Exchange sensitive index, Sensex, slid by 163.06 points to a fresh two-year low of 15695.43 on Friday against 15858.49 on Thursday on selling in key stocks amid weak global markets on persisting investor worries over eurozone debt troubles and slow growth in the world's leading economies. IT, metals, tech, refinery and auto segments suffered heavily, but gains in realty and capital goods stocks cushioned the fall somewhat. Retail stocks gained as the government approved FDI in multi-brand retail.
“Global negative cues led to a gap down opening in the market. However, sentiment was bolstered by some policy reforms announced on Thursday such as FDI in retail segment and cabinet approval for the Companies Bill,” said Shanu Goel, Senior Research Analyst at Bonanza Portfolio.
Dip in Reliance Industries, Infosys, HDFC, TCS, ICICI, HUL, Hero MotoCorp and Maruti Suzuki kept the market under pressure. However, rise in L&T, SBI, BHEL, Coal India and DLF cushioned the fall to some extent.
Globally, Asian stocks ended lower, as key indices in China, Hong Kong, Singapore, South Korea, Taiwan and Japan closed up to 1.37 per cent down. In Europe, the CAC, the DAX and the FTSE were down by about per cent each. — PTI