The domestic equity market corrected sharply on Friday, led by broader selling pressure. IT, pharma and PSU banks declined sharply. Rising coronavirus cases across US, Europe and China weighed on investors sentiment.
As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 549.49 points or 1.11% to 49,034.67. The Nifty 50 index lost 161.90 points or 1.11% at 14,433.70.
In the broader market, the S&P BSE Mid-Cap index fell 1.18%. The S&P BSE Small-Cap index skid 0.97%.
Sellers outpaced buyers. On the BSE, 1088 shares rose and 1936 shares fell. A total of 139 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 9,31,05,607 with 19,94,440 deaths. India reported 2,13,027 active cases of COVID-19 infection and 1,51,918 deaths while 1,01,62,738 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.