Sensex tanks 407 points, Nifty ends below 11,800

Investors are also awaiting the outcome of GST Council meet later during the day.

Sensex tanks 407 points, Nifty ends below 11,800

New Delhi: Markets ended in the negative zone on Friday with both Sensex falling 1.20 percent and Nifty dropping 0.91 percent.

The BSE Sensex tanked 407.14 points or 1.03 percent to close at 39,194.49 while the NSE Nifty dropped 107.65 points or 0.91 percent to 11,724.10.

Investors are also awaiting the outcome of GST Council meet later during the day. This is the first GST Council meeting after Modi 2.0 took charge last month and is being held just two weeks before the presentation of Union Budget 2019.

Top losers in the Sensex pack were Yes Bank, Maruti, HDFC, Hero MotoCorp, Sun Pharma, HUL, Kotak Bank, Coal India, RIL, TCS and Bharti Airtel dropping 4.36 percent. Bucking the trend, SBI, IndusInd Bank, Vedanta, NTPC, M&M and Axis Bank, ended in greeen, with gains of up to 1.28 percent.

On a net basis, foreign institutional investors sold equity worth Rs 438.41 crore, while domestic institutional investors purchased shares to the tune of Rs 1,241.23 crore, provisional data available with stock exchanges showed on Thursday.

Yesterday, the BSE Sensex jumped 488.89 points or 1.25 percent at 39,601.63 while the NSE Nifty zoomed 140.30 points or 1.20 percent at 11,831.75.