Stock Market Highlights: Nifty Snaps Two-Week Winning Streak; Sensex Falls Below 80,000
The market breadth was skewed in favour of the sellers as 2,178 stocks declined.
The benchmark equity indices closed in the red for the third straight session on Friday, dragged down by shares of Reliance Industries Ltd.
The NSE Nifty 50 ended 74.05 points or 0.3% lower at 24,426.85 and the BSE Sensex closed 270.92 points or 0.34% down at 79,809.6. The Nifty fell over 0.39% during the day to 24,404.7, while the Sensex slipped 0.42% to 79,741.76.
On a weekly basis, the Nifty snapped its two-week winning streak.
In terms of points contribution, RIL weighed on the Nifty the most after the company's annual general meeting. The share price hit a four-month low after it announced existing shareholders cannot get anything in the upcoming Jio IPO.
Mahindra & Mahindra, RIL and Infosys were among the companies that fell the most.
All but one out of the 15 sectors on the NSE closed in the red, with the Nifty Realty, Defence and PSU Bank declining the most.
The BSE Midcap ended 0.41% lower and the SmallCap also closed 0.29% down.
The market breadth was skewed in favour of the sellers as 2,178 stocks declined, 1,905 advanced and 154 remained unchanged on the BSE.
