Sensex snaps 3-days rally, closes 191 points down

After three straight days of rally, the Indian equities markets benchmark Sensex slipped 191 points on Friday due to selling pressure in power and banking stocks.

The 30 stock S&P Sensex of the Bombay Stock Exchange closed at 57,124.31 points, down 0.33 per cent or 190.97 points from its previous day's close at 57,315.28 points.

Earlier the Sensex opened in the positive at 57,567.11 points and touched a high of 57,623.69 points. The index slipped to a low of 56,813.42 points due to heavy selling in the early trade. However, buying support in Reliance, ITC and IT stocks helped recoup the losses.

The broader Nifty 50 of the National Stock Exchange closed 0.40 per cent or 68.85 points lower at 17,003.75 points. The Nifty touched a high of 17,155.60 points and low of 16,909.60 points in the intra-day.

There was heavy selling pressure in power, banking, and auto stocks. NTPC slumped 2.69 per cent to Rs.121.25. Power Grid Corporation slipped 2.47 per cent to Rs.203.25. Mahindra & Mahindra 1.71 per cent lower at Rs.812.50; Axis Bank 1.59 per cent lower at Rs.667.45; Kotak Bank 1.57 per cent down at Rs.1748.30 and UltraTech Cement 1.57 per cent down at Rs.7224.05 were among the major Sensex losers.

Only 8 of the 30 scrips that are part of Sensex closed in the positive. HCL Technologies surged 3.08 per cent to Rs.1265.10. Tech Mahindra jumped 2.34 per cent to Rs.1723.20. Asian Paints 0.65 per cent higher at Rs.3288.15; Wipro 0.55 per cent higher at Rs.698.50; Infosys 0.37 per cent higher at Rs.1863.65 and Reliance Industries 0.32 per cent higher at Rs.2372.25 were among the major Sensex gainers.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor