Indian equity benchmark indices declined on Friday morning with the BSE Sensex losing 2 percent. Heavy selling pressure was witnessed in banking and finance stocks. However, buying in metal and oil and gas stocks restricted the losses.

At close, the BSE Sensex slipped 984 points at 48782, while the NSE Nifty stood lower at 14631, down by 263 points in trade. Rising Covid cases and poor cues from across the globe saw selling pressure in stocks today, which was also the first day for the May F&O series. Investors were unwilling to carry long positions into the next week, thanks to rising Covid 19 cases.

ICICI Bank, Kotak Mahindra Bank, Asian Paints,  Mahindra and Mahindra  TCS, Tata Motors, and Adani Ports. The losses mainly were ONGC (4 per cent), Coal India, Divi's Labs, Grasim, and Indian Oil Corporation.   

On a weekly basis, both the frontline indices snapped their 3-week losing streak and added around 2 percent higher each. 

Most Asian markets ended the day with losses, even as the Dow Futures traded lower openings for the US markets. Most international markets are at peak levels and investors may trigger booking profits at higher levels.

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