Now Reading: Sensex falls 456 points, Nifty closes below 24,600
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Sensex falls 456 points, Nifty closes below 24,600
Indian equities ended lower on Friday, with the Sensex falling 455.59 points, or 0.58%, to 78,499.17. The Nifty 50 declined 65.35 points, or 0.27%, to 24,570.65, according to BusinessLine. LiveMint reported a…
The Story in Brief
Indian equities ended lower on Friday, with the Sensex falling 455.59 points, or 0.58%, to 78,499.17. The Nifty 50 declined 65.35 points, or 0.27%, to 24,570.65, according to BusinessLine. LiveMint reported a slightly different close of 24,557, down 0.32%. Financial stocks led the decline, while information technology, auto and metal shares offered support.
Bajaj Finance fell 5.12% and Bajaj Finserv dropped 4.29%, while TCS gained 2.46%. LiveMint linked weakness in financial stocks to concerns over the Reserve Bank of India’s draft proposal on some revolving credit products offered by non-bank lenders. Brent crude rose above $83 a barrel as uncertainty over shipping through the Strait of Hormuz weighed on sentiment.
The Indian Opinion
The easy story is that Middle East tensions alone drove the sell-off, but Friday’s sharper damage was in financial stocks, with Bajaj Finance among the biggest losers. The opposite claim, that technology gains prove the market is healthy, is just as selective. Investors should watch the RBI’s final rules and whether Brent stays above $83. A sustained break below 24,500 on the Nifty would offer a clearer measure of near-term risk.
Sources (4): ndtvprofit.com, thehindubusinessline.com, livemint.com, livemint.com (2)
This story was synthesised by AI from the 4 sources linked above.
Updated: this story now draws on 4 sources.
