Sensex extends losses for the sixth session, finishing 135 points lower; Nifty falls below 15,300

This was the Sensex’s and Nifty’s sixth consecutive session of losses, as well as their second consecutive weekly loss. The Sensex fell 2,943 points, or 5.41 percent, on a weekly basis, while the Nifty fell 908 points, or 5.93 percent.

The Sensex and Nifty indexes in India fell for the sixth straight day on Friday, reflecting a global selloff as central banks around the world raised interest rates to combat inflation, frightening investors who worry a recession is on the horizon.

The BSE Sensex began lower on Tuesday, a day after closing at a more than one-year low, and battled repeated bouts of volatility throughout the day. The 30-stock index ended the day at 51,360, down 135 points or 0.26 percent.

The NSE Nifty, meanwhile, fell 67 points, or 0.44 percent, to 15,293.50.

This was the Sensex’s and Nifty’s sixth consecutive session of losses, as well as their second consecutive weekly loss.

The Sensex fell 2,943 points, or 5.41 percent, on a weekly basis, while the Nifty fell 908 points, or 5.93 percent.

Titan, Wipro, Dr Reddy’s, Asian Paints, Sun Pharma, L&T, and PowerGrid were the biggest losers on the Sensex, with losses ranging from 2.6 to 6%.

Bajaj Finance, Bajaj Finserv, Reliance, ICICI Bank, HDFC Bank, and ITC, on the other hand, were winners.

Smaller, midcap, and largecap stocks lagged the benchmark by 0.88 percent, 0.68 percent, and 0.65 percent, respectively.

The BSE Oil&Gas Index has dropped more than 3%. Consumer durables (-2.68 percent), energy (-1.86 percent), and power were the other big losers (-1.59 per-cent). 15 of the 19 sectoral indicators finished the day in the red.

Globally, bourses were lower due to concerns about inflation. Asian markets closed the day lower, following Wall Street’s big plunge.

US stocks finished substantially lower, reversing a previous session’s rise. The S&P 500 was down 3.3 percent, while the Dow was down 2.4 percent. Both indices finished the day at their lowest levels since December 2020. The Nasdaq Composite Index fell 4.1 percent, reaching its lowest level since September 2020.