Sensex slumps by more than 180 points, market opens lower

The rupee slid further against US Dollars on Friday

Dragged by stocks of ICICI and HDFC bank, markets opened lower on Friday. In the opening session, Sensex fell more than 180 points while Nifty dropped below the 10,000-point mark.

ICICI Bank stocks went down by over 2 percent, a direct result of profit falls in Q1. This is the lowest slippage in seven quarters. The 30-share Sensex went down by 189.67 points to 32,193.63. Metal, healthcare, bank, realty, technology, auto, power and IT stocks were trading in the negative zone, down by up to 0.88 per cent on Friday. Pharma has remained in the red while banking stocks also pulled the market down. DRL was among the top index losers in the opening sessions.

Nifty also slumped by 53.15 points, standing at 9,967.40 Friday morning. Only three of the twelve Nifty Bank Stocks traded in the green. The rupee opened 64.19 against the dollar as against Thursday's closing value of Rs 64.10.

The indices were pulled down by Lupin, Hindustan Unilever, Sun Pharma, ONGC, TCS, Bharti Airtel, Reliance Industries, Bajaj Auto, Tata Steel.

OneIndia News