The Index pivotals dropped for the fourth consecutive deals, on the back of rising rupee and also spiraling crude prices. FPIs have also been reported to have been selling, by drawing out heavily from the markets to a great extent.
The Sensitive index of BSE (Sensex) ended trade lower by 300.82 points, while the Nifty of National Stock Exchange fell 86.30 points in the week-ended Friday’s trade.
Banking stocks witnessed sentiments to some extent. ICICI Bank was the biggest loser from the larger private banking sector loosing 2.77 percent on NSE. Tata Motors Ltd ended considerably lower by 2.48% at Rs. 180.80 on closing.
Shares of Reliance Communications Limited (RCom) fell over 7% on NSE, on over uncertainty on settling the disagreement with Ericsson.
Avenue Supermarts, the parent of hypermarket chain D-Mart, fell 5.05 percent, after the promoter Radhakishan Damani is reportedly going to sell up to 1% stake to meet minimum public share-holding norm.
Meanwhile, Asia markets witnessed fair recovery and ended the day higher to flat, while the domestic currency (Rupee) become constant to levels of 67.98 versus the American currency.