Friday, 5 May 2017

CLOSING BELL >> Profit booking drags Sensex 267 pts, Nifty below 9300 amid bad loans reforms

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Equity benchmarks reversed previous session's gains on Friday as the Sensex fell more than 300 points intraday following global weakness, amid new stressed assets reforms and stable earnings. All sectoral indices closed in the red, with Metal and PSU Bank down the most.

The 30-share BSE Sensex dropped 267.41 points or 0.89 percent to 29,858.80 while the 50-share NSE Nifty closed below the psychological 9,300 level, down 74.60 points or 0.80 percent at 9,285.30.

Sounding a caution on the market, Andrew Holland, CEO of Avenue Cap Alt Strategies, said complacency in the market is very high at the moment.

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