Equity indices, which were dragged down by extreme selling, extended their loses for a third consecutive day on Friday. Domestic markets started the day with a positive gap, tracking encouraging cues from the global markets and the surprising drop in inflation figures.
The 30-share Sensex of the Bombay Stock Exchange (BSE) lost 150.91 points or 1.58% and ended the day at 9,385.42 points. Dealers in the market say Indian bourses continued their losing streak on the back of some profit booking coupled with distressing worries over slowing economic growth and political uncertainty ahead of state election also weighed on the investors? sentiments.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) dropped 38.10 points or 1.34% and closed the day at 2,810.35 points. An analyst from a leading broking house said, ?Global outlook is still very much unclear, now we can expect something from the G20 meeting in Washington, as leaders of top countries will talk on current financial crisis and find some solutions to it.?
Barring FMCG, all the sectors in the BSE Sectoral indices ended the day on the negative terrain, with Capital Goods, Metal and Auto being the worst performer of the day. The breadth of the market remained negative throughout the trading session as out of 2,592 stocks traded on the BSE, only 924 managed to end the day in green. 1,594 stocks ended in red, while 74 stocks remained unchanged.