MARKET LIVE: Sensex sheds 600pts, Nifty50 below 17,700; M&M declines 3%

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Domestic equity opened lower on Friday amid weak global cues. Frontline indices Nifty50 opened over 100 points lower to trade below 17,800 levels and the S&P Sensex declined over 400 points to trade at 59,533 levels.
 


Tech Mahindra, M&M, Wipro, Maruti Suzuki, Infosys, TCS, contributed to the sharp cuts in benchmark indices. Sun Pharma, Bajaj Finance, Asian Paints, however, helped trim losses.

 

All sectors plunged in the sea of red – Nifty Auto, Nifty Metal, Nifty IT indices slipped the most, over 1 per cent.

Among individual stocks, shares of Tata Metaliks gained 1 per cent in a weak market after the Phase-1 launch of their ductile iron pipe plant at Kharagpur.

Besides, shares of IndusInd Bank gained 1 per cent after the bank re-appointed Sumant Kathpalia as its MD and CEO.





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