Sensex, Nifty drop 5th straight day as Brent tops $100
Indian stock markets had another rough Friday, closing lower for the fifth day in a row.
Worries over rising oil prices (Brent crude jumped above $100 a barrel thanks to Middle East tensions) and weak global cues kept investors on edge.
Sensex dropped 331.62 points to finish at 76,059.77, and Nifty slipped 102.15 points to end at 23,767.45.
Sensex, Nifty end week down 2.5%
Even though things started off rocky, both Sensex and Nifty bounced back from their lowest points during the day. Still, they wrapped up the week down about 2.5%.
On the sector front, Media stocks led gains (+1.8%), with IT (+0.8%) and PSU Banks (+0.5%) also in the green; meanwhile, Auto stocks fell hardest (-1.1%).
Nearly 100 companies, including big names like Reliance Industries and Tata Elxsi, hit their lowest prices in a year.
The rupee held steady at 96.57 against the US dollar.