Mumbai: The benchmark Equity Sensex dropped 215 points on Friday, tracking losses in the Heavyweight Reliance Industries, HDFC and SBI, after bank reserves keep interest rates unchanged and maintain their accommodating attitude.
The 30-stock index ended 215.12 points or 0.39 percent lower at 54,277.72, while the wider NIFTY NIFTY fell 56.40 points or 0.35 percent to 16,238.20.
Reliance Industries are the top slung in the sensex package, spilling more than 2 percent, followed by Ultratech Cement, SBI, Steel Tata, HDFC and Axis Bank.
On the other hand, Indusind Bank, Bharti Airtel, Tech Mahindra, Maruti, NTPC and Bajaj Auto are among enhancers.
BINOD Modi, Head – Strategy At Reliance Securities, said domestic equity traded ranged but a sharp correction in RIL dragged the market.
“The results of the RBI policy meeting are widely on the path expected with a sustainable focus on supporting economic recovery through soft monetary policy,” he said, adding that RIL witnessed a sharp correction after the Supreme Court’s decision to benefit Amazon in a group of excellence groups.
Furthermore, the weak gesture of the Asian market also burdened sentiment.
Elsewhere in Asia, the stock exchange in Shanghai, Hong Kong and Seoul are in red, while Tokyo ends with an increase.
Equity in Europe is traded on a positive tone on the offerings in intermediate sessions.
Meanwhile, Brent Crude’s international oil benchmark rose 0.56 percent to $ 71.69 per barrel.