Sensex, Nifty extend losses into 4th session; HDFC shares weigh

On a weekly basis, the BSE benchmark fell 1,829.48 points or 2.69%, and the Nifty declined 518.1 points or 2.56%.

Equity benchmark indices Sensex and Nifty stayed on the back foot for the fourth straight session on Friday as investors offloaded healthcare, consumer durable and commodity stocks amid a weak trend in global markets.

Foreign fund outflows and heavy selling in HDFC Bank shares also hit investor sentiments, traders said.

After oscillating nearly 500 points between gains and losses during the day, the 30-share BSE Sensex declined 221.09 points or 0.33% to settle at 66,009.15. During the day, it hit a high of 66,445.47 and a low of 65,952.83.

The Nifty fell 68.10 points or 0.34% to end at 19,674.25.

In the early trade, the benchmark indices had climbed after global financial firm JP Morgan said it plans to include Indian government bonds (IGBs) or government securities (G-Secs) into its Emerging Market index from next year, a move that will bring down borrowing cost for the government.

On a weekly basis, the BSE benchmark fell 1,829.48 points or 2.69%, and the Nifty declined 518.1 points or 2.56%.

“Domestic markets closed on a sombre note as mixed cues from U.S. and Asian markets weakened domestic investors’ confidence. Nevertheless, PSU bank stocks outperformed as India’s inclusion in JP Morgan’s government bond index led to a decline in bond yields.