Indian markets opened sharply lower as crude oil surged and global equities slipped, triggering heavy selling across sectors with PSU banks, auto and media stocks among the worst hit.
Gold and silver surged while mid- and small-cap stocks saw deeper cuts, as traders weighed oil supply risks and potential fallout for Gulf trade and Indian workers abroad.
At the close, the Sensex was up 173.81 points, or 0.21%, at 83,450.96, while the Nifty was up 42.65 points, or 0.17%, at 25,725.40.
Share market fell sharply with BSE Sensex closing about 850 points down from the day’s high and NSE Nifty ending below the 23,650 mark.Both indices slipped over 1 per cent from their intraday highs
Sensex and Nifty faced their first weekly decline after four weeks of gains on Friday. The Sensex dropped to a low of 72,485 while the NSE Nifty 50 dipped to a low of 21,932.
The FPO issue will open from July 15 to July 17 and bidding by anchor investors will be held on July 14.
At 12.21 pm S&P BSE Sensex fell by 408.43 points at 27,856.88 and Nifty50 was at 8,132.65 down by 121.15 points.
The Sensex was -37.71 points or 0.09 per cent low at 40,307.37 at 1230 Hours.
At the interbank foreign exchange, the rupee opened weak at 71.96 and fell further to 72.05 against the US dollar.
The rupee appreciated marginally to 69.60 against the US dollar in early trade, RIL up 2 per cent
