Sensex, Nifty Fall For Third Day In A Row Dragged By Banks

The Indian equity benchmarks declined for third day in a row on Friday dragged as banking and financial services shares along with index heavyweight Reliance Industries came under selling pressure. Consistent selling by foreign institutional investors amid downgrade of Indian equities by global investment bank Morgan Stanley has dented the investors’ sentiment towards Indian markets. The Sensex fell as much as 895 points and Nifty 50 index touched an intraday low of 17,613.

The Sensex ended 678 points or 1.13 per cent lower at 59,307 and Nifty 50 index declined 186 points to close at 17,672.

Foreign institutional investors sold shares worth ₹ 3,818.51 crore on Thursday while foreign institutional investors bought shares worth ₹ 836.6 crore.

The FIIs have so far this month sold shares worth more than ₹ 11,000 crore, according to NSDL data.