Sensex extends losses, down 297 points at 27,437

The Sensex plunged 297 points or 1.07 per cent to close Friday’s session at 27,437.94. The Nifty also finished down 93 points or 1.11 per cent at 8,305.25.

The sectoral indices were all in the red with realty down 3.83% and consumer durables down 3.18%. Among the other major losers were IT (down 2.78%), capital goods (2.57%), teck (2.33%), bank (1.33%) and power (0.96%).

Continued worries over foreign fund outflows due to restrospective taxes and lower than expected Jan-March earnings weighed on the market, reports said.

The top gainers in the session were ITC, TCS, Tata Motors, ONGC, and Maruti, while the top losers were Infosys, SSLT, Cipla, Hindalco, and Larsen & Toubro.

The Sensex closed Thursday’s session lower by 155 points or 0.56 per cent at 27,735.02 while the NSE Nifty finished 38.65 points or 0.46 per cent down at 8,391.05.

The Nasdaq Composite, the US market index most closely associated with technology stocks, closed at an all-time high of 5,056.06 on Thursday, surpassing a 2000 record set just before the dotcom crash. Its new record close capped a slow climb since it touched a 2002 low of 1,114.11, that spanned an economic recession, the rise of biotech and social media and the explosive growth of mobile phones that has helped make Apple Inc the most valuable company in the US.

Source: http://tiny.cc/w8wexx

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Sensex extends losses, down 297 points at 27,437

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