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Sensex drops 191 points; Nifty ends near 17,000 level

Sensex drops 191 points; Nifty ends near 17,000 level

Mumbai
The BSE benchmark Sensex tumbled 191 points on Friday, tracking losses in index-heavyweights HDFC twins, Kotak Bank and Axis Bank amid mixed cues from global markets.
After a choppy session, the 30-share index ended 190.97 points or 0.33% lower at 57,124.31. Similarly, the NSE Nifty declined 68.85 points or 0.40% to 17,003.75.
NTPC was the top loser in the Sensex pack, shedding around 3%, followed by M&M, Axis Bank, PowerGrid, Kotak Bank, Dr Reddy’s, Bajaj Finserv and HDFC.
On the other hand, HCL Tech, Tech Mahindra, Asian Paints, Wipro and Infosys were among the gainers.
“A range-bound day of trading ahead of Christmas ended the week as this month quite clearly belonged to the IT sector which stood tall amidst extreme volatility as cost-push inflation across sectors is keeping street worried on the impact in the hands of the consumer,” said S Ranganathan, Head of Research at LKP Securities.
While buoyancy in exports and tax collections coupled with the success of the PLI…

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