Weekend Market: Sensex is down 427-pts, Nifty retains 17,600

The BSE Sensex fell 427 points on Friday, extending its losses for the fourth straight day, tracking weakness in Bajaj Finserv, L&T, and Infosys amid a sweeping sell-off in global markets. Traders noted that the bourses were further dragged down by unrelenting foreign fund outflows.

Keeping at 59,037-maerk,  the 30-share BSE index fell 427.44 points, or 0.72 percent. The NSE Nifty also fell 139.85 points, or 0.79 percent, to 17,617.15. The bourses were able to limit their losses thanks to fag-end purchasing in a few chosen blue-chip shares.

Tech Mahindra, Tata Steel, Bharti Airtel, L&T, IndusInd Bank, Bajaj Finance, and Infosys were the top laggards in the Sensex pack, each losing 5.37 percent. HUL, Maruti, HDFC twins, and TCS, on the other hand, were among the gainers, climbing up to 2.68 percent.

Other Asian stock exchanges closed in the red, including those in Hong Kong, Seoul, Shanghai, and Tokyo.In mid-session trades, European stock exchanges were trading with significant losses.Brent crude, the international oil benchmark, fell 1.92 percent to USD86.68 per barrel.

According to stock exchange data, foreign institutional investors (FIIs) were net sellers in the capital market on Thursday, selling shares worth Rs.4,679.84 crore.

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