Markets nursed losses for the fourth straight session on Friday as upbeat second quarter GDP numbers failed to dispel concerns over a widening fiscal deficit.
The BSE benchmark Sensex dived 316 points to close below the 33,000-mark, while the broader Nifty declined 104.75 points to 10,121.80. It was a forgettable week for both the key indices, with the Sensex recording a fall of 846.30 points, or 2.51 per cent and the NSE Nifty losing 267.90 points, or 2.57 per cent.
“Despite data pointing to an improvement in the macro- economic environment, participants remained cautious and chose to sell stocks in the latter half of the trading day,” said Karthikraj lakshmanan, Senior Fund Manager – Equities, BNP Paribas Mutual Fund.
The 30-share benchmark, after scaling a high of 33,300.81 in early deals, slipped into the negative zone to touch 32,797.78, before settling at 32,832.94, down 316.41 points, or 0.95 per cent.
This was its weakest closing since November 15, when it had finished at 32,760.44. The 50-issue NSE Nifty too cracked the 10,200-mark and hit a low of 10,108.55 before finishing 104.75 points, or 1.02 per cent down at 10,121.80.