Sensex erases gains in late selloff; bank, financial stocks weigh

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Equity benchmarks nursed losses for the second consecutive session on Friday as investors offloaded banking, finance and consumption stocks amid mixed global cues.

The BSE Sensex, which opened on a firm footing, came under fag-end selling pressure and closed at 38,845.82, down 134.03 points or 0.34 per cent.

Similarly, the broader NSE Nifty slipped 11.15 points or 0.10 per cent to finish at 11,504.95. HDFC Bank was the top loser among the Sensex constituents, skidding 2.39 per cent, followed by Kotak Bank, Bajaj Finserv, Maruti, Titan, SBI, HUL, HDFC and Tata Steel.

Bharti Airtel led the gainers' list with a jump of 3.73 per cent. M&M, NTPC, Tech Mahindra, Sun Pharma, PowerGrid and ONGC were among the other winners, climbing as much as 2.72 per cent. During the week, the Sensex dropped 8.73 points or 0.02 per cent, while the Nifty advanced 40.50 points or 0.35 per cent.  "Indian benchmark indices, after trading in the green for most of the day, succumbed to a round of selling in the last hour of trading, to close out the day flat, with a slight negative bias.         

Daily Pioneer
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