Inflation fears, costly oil trigger global selloff
Mumbai, June 10
The Sensex nosedived over 1,000 points while the Nifty slumped to the 16,200-level on Friday as investors dashed to safer assets as hardening crude oil prices fanned inflation fears and triggered a global selloff. With unrelenting foreign fund outflows, the rupee plunged to a fresh lifetime low of 77.93 against the US dollar, further denting sentiment.
SENSEX TANKS
1,016.84 POINTS
RUPEE DIPS TO 77.93 VS USD
CLOSES AT 54,303.44
- NSE Nifty plunged 276.30 points to close at 16,201.80
- Kotak Bank was the top loser, followed by Bajaj Finance, HDFC twins, Reliance, Wipro
The Sensex opened weak and stayed in the negative territory throughout the session. It finally ended 1,016.84 points lower at 54,303.44. Similarly, the Nifty plunged 276.30 points to 16,201.80.
Investors lost Rs 3.11 lakh crore in Friday’s session, with the market capitalisation of all BSE-listed companies falling to Rs 2,51,84,358.86 crore.
Kotak Mahindra Bank was the top loser in the Sensex pack, skidding 3.96%, followed by Bajaj Finance, HDFC, Reliance Industries, Wipro, Tech Mahindra, Infosys and Tata Steel.
On the other hand, Asian Paints, Dr Reddy’s, UltraTech Cement, HUL, Titan, Maruti, Nestle India and NTPC finished with gains of up to 0.78%.
