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Broad-Based Selling Pressure Pulls Nifty Below 11450-Level

The benchmark Sensex dipped by 560 points on Friday on govt’s tough stance on super rich tax for Forein Portfolio Investors. Banking and Auto stocks slumped the most during the day.


At close, the Sensex quoted at 38337-mark down 560.45 points while the Nifty scaled down 177 points to finish at 11419.25.

Top loser on Nifty50 front runners were M&M and Bajaj Finance down by over 4 % each, followed by BajajFinserv, EicherMotor and IndusInd Bank down over 3% each. On Sensex Tata Motors, HeroMoto Corp and Yes Bank were the tmajor laggards down over 3% each.

All sectoral gauges closed in loss on Friday, with Nifty Auto & NIfty Bank were down by 3.31% and 2.17%, respectively. Also, Nifty Pharma down by 2.23% and Nifty Media slipped by 2.51%, FMCG index down by 1.78%, Metal down by 1.32% and Realty down by 1.47% in the weekend.