New Delhi, 08 May (H.S.): Domestic stock markets opened with notable selling pressure on the final trading day of the week, Friday, as both major benchmark indices traded in negative territory amid the ongoing West Asia crisis.In early trade, the Sensex plummeted 394 points, while the Nifty declined 135 points.
The Bombay Stock Exchange's (BSE) Sensex fell 394.25 points, or 0.51 percent, to trend at 77,450.27, whereas the National Stock Exchange's (NSE) Nifty slipped 95.70 points, or 0.39 percent, to 24,230.95.
Auto and banking shares continued to face sustained selling, contrasted by buying interest in pharma and IT counters, with the banking sector's weakness primarily driving the downturn.
The Indian rupee weakened by 36 paise against the US dollar, settling at 94.58 in early trading.
Reports of gunfire between US and Iranian forces near the Strait of Hormuz propelled crude oil prices upward to nearly $101.00 per barrel. Notably, the domestic markets had closed lower on Thursday as well.
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Hindusthan Samachar / Jun Sarkar
