Sensex slips 765 points, Nifty settles at 17,197

Indian equities benchmarks were down nearly 700 points on Friday weekend. The Index heavyweights such as Reliance Industries, HDFC Bank, Housing Development Finance Corp, and Kotak Mahindra Bank lost ground, while index majors such as Larsen & Toubro and Infosys gained ground.

The Sensex was down 764.83 points, or 1.31 percent, at 57,696.46, while the Nifty was down 205 points, or 1.18 percent, at 17,196.70 at the close. Around 1722 shares have increased in value, 1453 shares have decreased, and 137 shares have remained steady.

Among the major Nifty declines were Power Grid Corporation, Reliance Industries, Tech Mahindra, Asian Paints, and Kotak Mahindra Bank.  On the othr hand, UPL, BPCL, ONGC, IOC, and L&T were among the gainers. All other sectoral indices, barring capital goods, finished in the red. The BSE midcap and smallcap indices finished flat.

PowerGrid Corporation was the worst decline among the Sensex 30 equities, falling 4% to Rs 206. At Rs 2,414, Reliance Industries is down 2.8 percent. Other notable losers were Asian Paints, Kotak Bank, Tech Mahindra, Maruti, Bharti Airtel, ITC, Sun Pharma, Dr. Reddy's, and Mahindra & Mahindra, which all fell between 1.5 and 2 percent. Two of the five notable gainers were Larsen & Toubro and IndusInd Bank.

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