Sensex drops 456 pts, Nifty slips below 24,600 amid financial sector sell-off
Mumbai, Aug. 7 -- The benchmark indices ended with modest losses on Friday, snapping a two-session winning streak. Sentiment remained subdued throughout the session as selling in heavyweight financial stocks, particularly private banks and NBFCs, outweighed gains in information technology and auto shares. The Nifty settled below the 24,600 mark, while investors also remained cautious ahead of the US July jobs report, a key indicator for the Federal Reserve's interest rate outlook. Despite the decline, the broader market remained resilient, with midcap and smallcap stocks outperforming the benchmark indices.
The S&P BSE Sensex declined 455.59 points or 0.58% to 78,499.17. The Nifty 50 index lost 65.35 points or 0.27% to 24,570.65. In the ...
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