Sensex slumps on Friday morning trade
Around same time, Nifty declined 147.30 points at 8,378.45.
In the morning hours, Sun Pharma, BHEL, SBI and HDFC Bank were top gainers while GAIL, Hero MotoCorp, Asian Paints, ICICI Bank and HDFC were among the losers on Sensex on Friday.
Reports attribute the slide largely to profit booking and weak cues from Asian markets.
Foreign capital outflows ahead of IIP data to be released later in the day also exerted pressure on the market, reported The Hindu.
Markets also fear that the US Federal Reserve could go ahead with a rate hike in December, given signs of stability in the US share markets. Higher interest rate in the US could impact flows from foreign investors into Indian and other emerging markets, reported NDTV.
Image: twitter.com/BSEIndia
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