The two key equity benchmarks, Sensex and Nifty, continued their losing run amid volatility, on Friday. The domestic indices, however, recouped some their lost ground in the fag-end of the session. The S&P BSE Sensex, which hit a low of 64,755 in the intra-day trade, closed at 64,949, down 202 points. On the other hand, the NSE Nifty50 settled at 19,310, down 55 points. The index hit a low of 19,254 during the day.
On the 30-share Sensex platform, TCS, TechM, Infosys, PowerGrid, Sun Pharma, Wipro, M&M emerged main losers. On the flip side, Reliance, Maruti, Nestle, Axis Bank, HUL, Tata Motors were among the gainers. Shares of Reliance advanced 0.6 per cent after the exchanges said in a notification that shares of Jio Financial Services will be listed on August 21, 2023, under the 'T' Group of securities.
In the broader markets, the BSE Midcap and Smallcap indices settled up to 0.4 per cent lower each.
Sectorally, the Nifty IT index fell 1.47 per cent, while the Nifty PSU Bank and FMCG indices gained 0.2 per cent each.
In the previous session on Thursday, the BSE Sensex plunged 388 points to end at 65,151, while the NSE Nifty50 closed at 19,365, down 100 points.
"Concerns regarding inflation and shifts in investor preferences towards safer assets dampened overall market sentiment for domestic equities. Fears of a Fed rate hike, coupled with a decline in global equities, exerted additional downward pressure, specifically on IT stocks. Higher US bond yields and default risk in China are poised to prompt FIIs to adopt a more prudent stance when considering investments in emerging markets," said Vinod Nair, Head of Research at Geojit Financial Services.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended in the negative territory. European markets were trading down. The US markets ended lower on Thursday.
Global oil benchmark Brent crude declined 0.46 per cent to $83.73 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,510.86 crore on Thursday after a day's breather, according to exchange data.
Meanwhile, the rupee edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the US dollar on Friday, weighed down by a negative trend in domestic equities and foreign fund outflows. Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and a rising US dollar.
At the interbank foreign exchange, the domestic unit opened at 83.03 against the dollar and moved in a range of 83.02 to 83.13 in the day trade. It finally ended the day at 83.10 (provisional), registering a fall of 1 paisa from its previous close. On Thursday, the rupee settled lower by 1 paisa at a record low of 83.09 against the US dollar.