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Indian Markets Plunge on Friday
27 Feb
Summary
- Benchmark indices Nifty and Sensex ended with significant losses.
- Auto, financials, and FMCG sectors were major laggards on Friday.
- IT sector experienced selective buying amid broad selling pressure.
Indian stock markets experienced a sharp downturn on Friday, with both benchmark indices, Nifty and Sensex, closing significantly lower. The session was marked by broad selling pressure across various sectors.
The auto, financial, and fast-moving consumer goods (FMCG) segments were particularly hard-hit, registering substantial losses. Conversely, the information technology (IT) sector witnessed selective buying interest amidst the overall market weakness.
In a volatile trading day, the Nifty index saw a notable decline of 317.90 points, equivalent to 1.25%, to finish at 25,178.65. Similarly, the 30-share Sensex experienced a significant plunge of 961.42 points, or 1.17%, settling at 81,287.19. The day's trading highlighted a cautious sentiment among investors, with a clear preference for defensive IT stocks over other sectors.
