In volatile trading, the Bombay Stock Exchange benchmark Sensex on Friday fell 163 points on heavy selling amid weak global markets, although retailers and developers gained following the government’s approval to FDI in the multi-brand retail sector.
The Sensex, which moved between 15,891.05 and 15,645.78, closed 163.06 points down at 15,695.43.
The broad-based National Stock Exchange index Nifty also fell 46.40 points to 4,710.05, after touching the day’s low of 4,693.10.
ADVERTISEMENT
IT sector majors Infosys and TCS were among the big losers. Reliance Industries, with heaviest weight in the Sensex stocks, fell on increased selling by funds.
The gauge had touched 2-year low this week on heavy foreign capital outflow on fears of the deepening euro-zone debt crisis and slowing global economy. The European and Asian stocks remained weak and fanned selling.
However, Pantaloon Retail, Shopper’s Stop and Trent gained as the Cabinet approved 51 per cent FDI in multi-brand retailing and removed the limit on single-brand retail.
ADVERTISEMENT
The realty sector also cushioned the falling market after stocks of DLF, Phoenix Mills, D B Realty, Oberoi Realty, Sobha Developers and Peninsula Land rose.
The capital goods sector gained the most by adding 2.64 per cent to 9,533.52 as engineering major Bharat Heavy Electricals rose 3.45 per cent, on reports of the stock upgrade. Larsen and Toubro shot up 3.40 per cent.
Of 30 Sensex stocks, 22 fell while eight ended with gains.