New Delhi, 19 June (H.S.):

The domestic equity market opened sharply lower on Friday, the last trading session of the week, as heavy selling pressure dragged benchmark indices deep into the red.

The Bombay Stock Exchange (BSE) Sensex fell 710.77 points, or 0.92 per cent, to 76,699.20 in early trade. Meanwhile, the National Stock Exchange (NSE) Nifty declined 194.20 points, or 0.80 per cent, to trade around 23,973.80.

Information Technology (IT) stocks led the decline, with the sector falling by nearly six per cent. Infosys plunged around eight per cent, while Tata Consultancy Services (TCS) dropped six per cent. Tech Mahindra also declined by about six per cent, and HCL Technologies slipped nearly five per cent.

Meanwhile, the Indian rupee strengthened by 10 paise in early trade, quoting at 94.30 against the US dollar.

Notably, the domestic stock market had extended its winning streak for a fifth consecutive session on Thursday. At the close, the BSE Sensex had gained 254.36 points, or 0.33 per cent, to settle at 77,409.98, while the NSE Nifty rose 82.30 points, or 0.34 per cent, to close at 24,168.

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Hindusthan Samachar / Jun Sarkar