Sensex ends 549 pts lower: Top factors that dragged the markets lower - Business Standard

The Indian benchmark indices ended Friday's session lower, down over 1 per cent, triggered by an across-the-board sell-off that saw all the Nifty sectoral indices ending the session in the red.

The broader Nifty50 index ended the day 1.1 per cent lower at 14,434.

The Nifty IT index plunged 2.24 per cent and was the top sectoral loser in Friday's session.

Among individual stocks, Tech Mahindra, Coforge, HCL Tech and Wipro fell over 3 per cent each while Naukri, Mindtree, LTI, and Infosys fell over 2 per cent each.

As for the Nifty IT index, it has surged 29 per cent in the same period.

Besides Hong Kong’s Hang Seng fell 0.29 per cent and Australia’s ASX 200 was flat, while Japan’s Nikkei lost 0.65 per cent.

The pan-European STOXX 600 index fell 0.4 per cent

According to Jay Purohit, Technical & Derivatives analyst at Motilal Oswal Financial Services, "at current juncture, crucial support for Nifty is placed at 14,430 levels and from last few sessions we are witnessing buying interest from lower levels

Thus, we continue to maintain our bullish stance on index and expect Nifty to move towards 14,750 – 14,800 zones in coming days

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