Following a positive recovery on Thursday, market indices resumed to trading sharply lower amid fresh global sell-off on Friday morning.
The BSE’s Sensex plunged by 510.03 points to 33,906.15, while the Nifty hovered around 10,419.45 post a 157.40 point decline.
This follows a dip in Dow Jones industrials on Wall Street, which declined by over 1,000 points, thus deepening a week-long sell-off. This was followed by a significant dip in Asian markets.
Sectoral indices were reportedly trading in red, with ICICI Bank, HDFC Bank and ITC reporting significant losses in early trade.
Meanwhile, the Indian rupee was trading at 64.39 to the dollar, down 13 paise compared to its previous close.
Additionally, the US oil prices saw a decline for the sixth consecutive day, after Iran announced plans to boost production and US crude output hit record highs, reports Moneycontrol.