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Sensex cracks over 420 points, Nifty drops below 10,900

Profit booking, negative global cues and weak domestic currency weighed on investors' sentiments.

Sensex cracks over 420 points, Nifty drops below 10,900

New Delhi: Markets posted sharp sell-off in late with Sensex and Nifty both dropping over 1 percentage points in afternoon trade on Friday.

Profit booking, negative global cues and weak domestic currency weighed on investors' sentiments.

At 1.16 pm the BSE Sensex fell 424.86 points or 1.17 percent to 36,006.81 while the NSE Nifty dropped 125.30 points or 1.14 percent to 10,826.40.

Top losers include Maruti, Infosys, Axis Bank, Asian Paints, ICICI Bank, Reliance Industries, HDFC, Bharti Airtel, TCS, L&T, Bajaj Auto, and ITC, cracking up to 2.61 percent. While the gainers include Tata Motors, Tata Steel, Coal India and NTPC, rising up to 1.73 percent.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 386.44 crore Thursday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 87.96 crore, provisional data available with BSE showed.

Markets took a dip on Thursday after the U.S. Federal Reserve largely retained plans to increase interest rates despite risks to growth while the sentiment also soured after US President Donald Trump refused to sign legislation to fund the government unless he got money for a border wall, risking a partial federal shutdown on Saturday, a Reuters report said.

MSCI`s broadest index of Asia-Pacific shares outside Japan was down 1.07 percent.

With Agency Inputs