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Sensex down by 222.14 pts
Economy

Sensex down by 222.14 pts

Agency News

Mumbai, Mar 22 : The BSE Sensex on Friday dropped by 222.14 pooints to settle at 38,164.61 snapping a winning streak of last eight sessions, on profit booking by local operators at higher level.

The Nifty of National Stock Exchange (NSE) fell by 64.15 points at 11,456.90. The equity market witnessed high volatility today as it opens high by 89 points to 38,452.47. It rallied by 201 points to 38,564.71 day high. Later, it tumbled down by nearly 274 points to 38,089.36 day low before closing at 38,164.61, sliding by 222.14 points from its last close.

The sectoral indices like Telecom, Auto, Bankex, Oil and Gas, Health Care and Technology slid down. In scrips, Tata Motors DVR, Tata Motors, Reliance Industries that dragged the market. Among secondary barometers, the BSE Mid-Cap index fell 0.59 pc. The BSE Small-Cap index fell 0.44 pc.

The market breadth, indicating the overall health of the market, was weak. On BSE, 1010 shares rose and 1704 shares fell. A total of 145 shares were nchanged. Overseas, European stocks were trading lower Friday as concerns over the US Federal Reserve's subdued outlook and ongoing Brexit uncertainty weigh on sentiment.

The European Union proposed an extension of the Brexit deadline to May 22 on the condition that the UK Parliament support Prime Minister Theresa May's withdrawal deal, which will be put to vote next week.

Most Asian shares bounced back from early lows and settled higher. (UNI)