Mumbai, Mar: Benchmark stock indices Sensex and Nifty declined by more than 1 per cent in opening trade on Friday due to heavy selling in financials, IT and capital goods stocks amid weak global trends.
The 30-share BSE barometer plunged 730.17 points or 1.22 per cent to 59,076.11 as 25 of its constituents traded in the red. The index opened lower and fell to a low of 59,062.72 in early trade.
The broader Nifty of the National Stock Exchange tanked 201.05 points or 1.14 per cent to 17,388.55 in opening trade. As many as 45 of Nifty shares traded in the red with Adani Enterprises, HDFC twins and IndusInd Bank emerging as the biggest losers.
Heavy selling in financials, banking, IT and capital goods shares triggered by weak Asian markets and overnight losses in the US market dragged down the benchmark indices, analysts said.
HDFC fell the most by 2.53 per cent among Sensex shares. IndusInd Bank, HDFC Bank, L&T, ICICI Bank, Reliance Industries, Axis Bank, Infosys, TCS and Ultratech Cement were among major losers.
Tata Motors bucked the trend gaining 0.75 per cent. Bharti Airtel and Maruti also advanced.
Foreign Institutional Investors emerged as net sellers in the capital market on Thursday as they sold shares worth Rs 561.78 crore, according to exchange data.
