Closing Bell: Sensex plunges nearly 700 pts, Nifty below 10,800 amid global weakness.
Benchmark indices fell sharply on Friday, tracking the sharp correction in global peers after the threat of a US government shutdown and of further hikes in US borrowing costs.
The 30-share BSE Sensex slipped 689.60 points or 1.89 percent to 35,742.07 and the 50-share NSE Nifty plunged 197.70 points or 1.81 percent to 10,754.
IOC, UPL, Adani Ports, Maruti Suzuki and Indiabulls Housing were top losers among Nifty50 stocks, which fell 3.5-4.5 percent.
HPCL, BPCL, Coal India and NTPC were only gainers, up 1-2 per cent.
About two shares declined for every share rising on the BSE.
Shriram Transport, Cummins, NBCC, Ramco Cements, CES, L&T Finance Holdings, Manappuram Finance, Bharat Forge, MRPL, Karnataka Bank, Federal Bank, IndusInd Bank, Axis Bank and Yes Bank were down 1-5 percent.
HEADLINES OF THE DAY
Rupee trades near day's low at 70.14/USD
JPMorgan on TCS: Research house stayed neutral on the stock. It confident about FY20 despite looming macro headwinds.
Aurobindo Pharma receives USFDA approval: Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Potassium Chloride ExtendedRelease tablets, 8 mEq (600 mg) and 10 mEq (750 mg).
Oil prices tumble to lowest in more than a year as equities sell off
Voltas under pressure: Voltas shares declined 1.5 percent in morning on Friday after Motilal Oswal cut its earnings estimates for current as well as next financial year.
The crucial resistance for Nifty spot is now seen at 10880 and above this 10960 Support for the immediate term is now placed at 10620 next support will be 10500.
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