- Tag results for NSE Nifty
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
Top losers were Hero MotoCorp, Vedanta, Bajaj Auto, Bajaj Finance, Asian Paint and HDFC Bank fell up to three per cent.
At 9.27 a.m, the S&P BSE Sensex traded at 36,112.60 points, lower by 157.47 points or 0.43 per cent from the previous close of 36,270.07 points.
The rupee jumped 74 paise to breach the 70 per dollar mark and touched 69.88 -- a three-month high -- in intra-day trade amid sustained selling of the greenback by exporters and easing crude oil price
The 30-share index bounced by 134.93 points, or 0.38 per cent to 35,334.73, with sectoral indices led by IT, teck, FMCG and oil and gas stocks advancing up to 1.15 per cent.
Pharma and information technology shares tumbled due to stronger rupee which rose 50 paise to 72.17 against the US dollar (intra-session) in late afternoon trade.
Easing global crude oil prices, which slipped below the USD 70 a barrel, and rupee recovering lost ground also helped build positive sentiments.
Further impacting domestic market sentiments, the Indian rupee again breached the 73-mark, dropping 57 paise (intra-day) to 73.07 against the dollar.
IT stocks were battered by a stronger rupee. Software services exporter Infosys Ltd, which closed 2.9 per cent weaker, was the biggest drag on the index.
The 30-share benchmark index fell 176.27 points, or 0.52 per cent, to close at 33,891.13; while the broader NSE Nifty lost 52.45 points, or 0.51 per cent, to end at 10,198.40.
Global markets reeled after US stocks plummeted Wednesday as a sharp drop in tech shares and worries about corporate earnings and disappointing outlooks added fuel to the meltdown across the board.
BSE Sensex closed down 0.53 percent at 34,134.38, the broader NSE Nifty ended 0.57 percent lower at 10,245.25.
Equity markets did a U-turn on Friday, erasing all of Thursday’s losses, mainly on the back of lower crude prices and the strengthening rupee.
The BSE Sensex, after a gap up opening at 34,493.21, rallied to hit a high of 34,858.35 before concluding 461.42 points, or 1.35 per cent higher at 34,760.89.
The S&P BSE Sensex vaulted over 400 points, while the NSE's Nifty surged 135 points after last week's hammering.