Sensex drops by 400 points to 57,525, Nifty below 16,950 as week’s trading end

Sensex, Nifty updates: Equity benchmark indices Sensex and Nifty buckled under selling pressure for the second straight session to settle nearly 1 per cent lower on Friday.

As investors pared exposure to the metal, energy and realty stocks amid a bearish trend in Asian and European markets.

Besides, a depreciating rupee against the US dollar and fresh foreign fund outflows also hit investor sentiments, traders said.

In a volatile trade, the 30-share BSE Sensex declined 398.18 points or 0.69 per cent to finish at 57,527.10. During the day, it went lower by 502.3 points or 0.86 per cent to 57,422.98.

The broader NSE Nifty fell 131.85 points or 0.77 per cent to end at 16,945.05.

Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 per cent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen & Toubro and Mahindra & Mahindra, Axis Bank and Titan.

On the other hand, Kotak Mahindra Bank, Infosys, Tech Mahindra, Power Grid, Asian Paints and Wipro were the gainers.

European markets were also quoting in the red in the afternoon trade. The US markets ended higher on Thursday.

Meanwhile, the rupee declined 25 paise to close at 82.45 against the US dollar.

Global oil benchmark Brent crude dipped 1.73 per cent to USD 74.60 per barrel.

Foreign Portfolio Investors offloaded equities worth ₹995.01 crore on Thursday after a day’s breather, according to exchange data.