Weekend Market: Sensex plummets 460 pts; Nifty below 17380

Benchmark indexes fell dramatically In the final hour of trading as investors booked profits at higher levels. The BSE Sensex, which had set a high of 57,975, plummeted 1,073 points to 56,902. The index, on the other hand, ended the day at 57,061, down 460 points or 0.8%. The Nifty50 index on the NSE fell 325 points from the day's high of 17,378 to a low of 17,053. It closed at 17,102.5, down 142.5 points, or 0.83 percent, from its previous close.

Axis Bank was the largest loser on the benchmark indices, down 6.5 percent.  Other laggards were Coal India, Adani Ports, Power Grid, Maruti Suzuki, Bajaj Auto, ONGC, Wipro, and Britannia Industries, which all fell between 2.5 and 4%.

The only stocks to gain ground were HDFC Life, Tata Consumer Products, Kotak Bank, Sun Pharma, HDFC Bank, Tata Motors, Tata Steel, and Ultratech Cement.  The MidCap and SmallCap indices each lost around 1% in the broader markets. All of the indices ended the day in the red, led by the Nifty Oil and Gas index, which fell 2.5 percent.

Global Markets: European markets rose on Friday as solid corporate profits boosted global stocks, but they remain on track for a dismal month. In early trading, the Stoxx 600 index, which tracks stocks across Europe, gained 1%.

Wall Street, on the other hand, was anticipating a gloomy start, with Dow Jones, Nasdaq, and S&P 500 Futures down as much as 1%. Earlier in Asia, the Kospi in South Korea climbed 1%, and the CSI300 in China gained 2.4 percent.

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