Stock markets fall for 2nd day on selling in IT banking shares

Benchmark indices Sensex and Nifty declined for a second day in a row on Friday due to selling in IT and banking shares amid foreign fund outflows and weak trends in the US markets.

The 30-share BSE Sensex fell by 106.62 points or 0.16% to settle at 66,160.20. During the day, it declined by 388.17 points or 0.58% to 65,878.65.

The NSE Nifty declined 13.85 points or 0.07% to finish at 19,646.05.

From the Sensex pack, Bajaj Finserv, HDFC Bank, Tata Motors, HCL Technologies, Tata Consultancy Services, Axis Bank, Infosys, IndusInd Bank, Tech Mahindra and Maruti were the major laggards.

NTPC, Power Grid, Mahindra & Mahindra, JSW Steel, Bajaj Finance, ITC and Reliance Industries were among the gainers.

In Asian markets, Seoul, Shanghai and Hong Kong ended in the green while Tokyo settled lower. Equity markets in Europe were trading on a mixed note. The U.S. markets ended in negative territory on Thursday.

Meanwhile, global oil benchmark Brent crude was trading 0.42% lower at $83.89 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,979.44 crore on Thursday, according to exchange data.

The BSE benchmark had plunged 440.38 points or 0.66% to settle at 66,266.82 on Thursday, while the Nifty declined 118.40 points or 0.60% to close at 19,659.90.