The benchmark BSE Sensex fell nearly 300 points as it went below 34000-mark in early trade amid weak Asian Cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.
The 30-share barometer fell by 293.31 points (0.85 percent) to 33899.34. Earlier the gauge had gained 1173.88 points in the previous seven sessions. Sectoral indices led by Tech, IT, PSU, Power, oil and gas, infrastructure and banking stocks declined up to 1.45 percent.
The broader 50 share Nifty of the National Stock Exchange (NSE) was trading lower by 84.25 points (0.80 percent) at 10396.35.
Shares of fell by 3.86 percent to Rs 1123.90 less than expected FY19 revenue guidance. The stock was the biggest contributor to the losses on Sensex.
Other major laggards were Wipro, Tata Motors, ONGC, Axis Bank, NTPC, RIL, Dr. Reddy’s, SBI, ICICI Bank, Bharti Airtel, Asian Paints, Maruti Suzuki and Tata Steel, falling by up to 1.54 percent.
Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 399.59 crore on Friday, provisional data showed.
In other Asian markets, Hong Kong’s Hang Seng shed 1.44 percent, while Shanghai Composite Index was 1.05 percent down in early trade. However, Japan’s Nikkei was up by 0.26 percent.
The US Dow Jones Industrial Average ended 0.50percent low in Friday’s trade. Nasdaq and S&P 500 was also down by 0.47 percent and 0.29 percent respectively.
The rupee fell 20 paise to 65.40 against the US dollar in early trade on global trade war concerns, dip in India’s exports in March and a sharp drop in domestic equities. It had closed higher by 6 paise at 65.20 on Friday.