ST GIVES UP 51,000 LEVEL AS BEAR MAUL INTENSIFIES

MARKETS EXTEND LOSSES FOR FOURTH DAY; PSU, BANK STOCKS BEAR THE BRUNT

NEW DELHI: Equity benchmark indices cracked further on Friday amid weak Asian cues with banking and auto majors taking a hit.

The Sensex tumbled 435 points while the Nifty slumped below the 15,000mark on Friday as markets buckled under selling pressure for the fourth session on the trot amid a lacklustre trend in global markets.

The 30-share BSE Sensex ended 434.93 points or 0.85 per cent lower at 50,889.76, pressured by robust selling in banking and auto counters.

Similarly, the broader NSE Nifty gave up the 15,000 level, dropping 137.20 points or 0.91 per cent to 14,981.75.

A day after topping the

Sensex gainer's chart,

ONGC emerged as the biggest laggard in Friday's session, tumbling 5.06 per cent. It was followed by SBI, Axis Bank, ICICI Bank, Bajaj Auto, Maruti and M&M, which shed up to 3.77 per cent.

On the other hand, IndusInd Bank, HUL, Dr Reddy's, NTPC, Reliance Industries and Bajaj Finserv were among the gainers, climbing up to 1.97 per cent.

During the week, the Sensex declined 654.54 points or 1.26 per cent, and Nifty fell 181.55 points or 1.19 per cent.

"The Nifty-50 and BSE Sensex declined by 1.2 per cent this week as market mood became cautious on rising global and local bond yields. The broader markets that is NSE Mid Cap 100 Index and BSE Small Cap Index are both in the green this week. The US 10 Year Bond yields have risen from below 1 per cent to 1.29 per cent, building in economic impact of the USD 1.9 trillion stimulus package.

"Almost 37 stocks from Nifty-50 lost ground this week with Pharma and select consumers losing the most," said Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities.

137 pts drop in Nifty to 14,981.75

1.2% fall in Sensex and Nifty this week