Sensex extends losses as new F&O series opens weak
The BSE Sensex tumbled almost 341 points to end at a fresh seven-month low of 33,349.31 on Friday as the November derivatives series began on a subdued note amid weakness in the rupee and negative leads from global markets.
On a weekly basis, both key indices Sensex and Nifty recorded their second straight week of losses by falling 966.32 points, or about 3 per cent, and 273.55 points, or 2.7 per cent, respectively.
Continuous fall in the rupee, which depreciated to 73.45 (intra-day) against the dollar, and prevailing liquidity crunch remain key dampening factors, brokers said.
Most Asian markets skidded to multi-month lows and European shares opened sharply lower on worries over corporate earnings and global growth.
Disappointing quarterly earnings from Maruti Suzuki, Yes Bank and a few others accelerated the selling momentum, brokers said.
The Sensex moved in the range of 33,776.80 and 33,298.43 before settling down by 340.31 points, or 1.01 per cent, at 33,349.31. This is its lowest closing since April 5 when it had finished at 33,596.80.
The broader NSE Nifty ended 94.90 points, or 0.94 per cent down at 10,030 after shuttling between 10,128.85 and 10,004.55. This is its weakest closing since March 26, when the gauge had ended at 10,130.65 points.
Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed.