Indices slump sharply on global cues, Sensex tumbles over 1,000 pts

Erasing early gains, equities close marginally down

New Delhi: Domestic equity benchmark indices declined further as the session progressed and settled sharply lower on Friday, triggered by strong sell-off in global equities.

With Friday’s slump, the indices have declined for the five out of the past six sessions.

Sensex closed at 54,303 points, down 1,017 points, or 1.84 percent, whereas Nifty, at 16,202 points, was down 276 points, or 1.68 percent.

Besides, the Indian rupee touched a new low of Rs 77.87 per US dollar on Friday, after a prolonged phase of consolidation as inflationary risks have started souring.

“The US Fed’s meeting on June 14-15 will be the next big event affecting the (market) sentiments,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

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