Global cues, selling pressure pull Sensex down by 746 pts

After hitting the 50,000-level on Thursday, stock markets on Friday came under selling pressure amid weak global markets and persistent worries over Covid pandemic and economic recovery. The benchmark Sensex fell 746 points, or 1.50 per cent, to 48,878.54 and the Nifty50 plummeted 218 points, or 1.50 per cent, to 14,371.90 on across-the-board selling.

The benchmark equity indices ended lower for the second straight day, correcting further after making a record high on Thursday. This was the biggest single-day drop for the benchmarks in a month. Friday’s correction marked the end of an 11-week gaining streak for the frontline indices, which was the longest since 2009. Among the sectors, bank, PSU bank, metals and realty fell the most while auto index gained.

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