Equities wilted under selling pressure for the fourth straight session on Friday, capping off the worst week for investors this fiscal amid political uncertainties and spiking crude oil prices.
The benchmark Sensex slumped 300 points to end at 34,848.30, while the broader NSE Nifty cracked below the 10,600-mark. On a weekly basis, the Sensex lost 687.49 points, or 1.93%, while the Nifty tumbled 210.10 points, or 1.94% -- their biggest fall since the week ended March 9.
No let-up in selling by foreign funds and rising global crude oil prices, which hovered near $80 per barrel, affected investor sentiment, brokers said. The political cauldron in Karnataka remained on the boil, with the Supreme Court asking BJP's B S Yeddyurappa Government to prove its majority in the assembly on Saturday.
The 30-share Sensex opened lower and stayed in the negative terrain for the major part of the session, hitting a low of 34,821.62 before ending at 34,848.30 -- down by 300.82 points, or 0.86%. The 50-share NSE Nifty settled 86.30 points, or 0.81%, lower at 10,596.40.During the session, it moved between 10,589.10 and 10,674.95."Market edged lower as global trade tensions and concern on domestic macros due to weak INR and rising oil price dampened the sentiment