Equity indices finished the week on a lower note with the benchmark BSE sensex plunging more than 550 points as auto and financial stocks witnessed heavy losses. Unabated foreign fund outflows and disappointing quarterly earnings also dented market sentiment, traders said.
Sensex crashed 560 points or 1.44 per cent to end at 38,337 on Friday; while the broader NSE Nifty moved 178 points or 1.53 per cent lower to settle at 11,419.
Major laggards on the BSE index include Mahindra and Mahindra, Bajaj Finance, IndusInd Bank, Yes Bank, Hero MotorCorp, and Tata Motors with their stocks down as much as 4.42 per cent. 26 out of 30 stocks on the BSE index closed in red.
On the NSE index, all the sub-indices witnessed losses with Nifty Auto and Media sliding the most, down as much as 3.31 per cent.
On a net basis, foreign institutional investors sold equities worth Rs 1,404.86 crore, while domestic institutional investors purchased shares to the tune of Rs 329.05 crore, provisional data available with stock exchanges showed.
Sensex down by 560 points to close at 38,337; Nifty below by 11,450
