Market Plunges 2% on Weak Global Cues

The stock market plunged nearly 2 per cent on Friday, tracking losses in global markets following US announcing 10 per cent additional tariff on Chinese products rattled investors.

- TDG NETWORK

The BSE benchmark Sensex tanked 1,414.33 points or 1.90 per cent to settle at 73,198.10.

The NSE Nifty slumped 420.35 points or 1.86 per cent to 22,124.70. The was eighth straight day of losses for the market.

Traders attributed the steady decline to relentless foreign fund outflows.

Foreign institutional investors (FIIs) offloaded equities worth Rs 556.56 crore on Thursday, according to exchange data. Rising concerns about the US economic outlook made investors jittery, analysts added.

From its record peak of 85,978.25 hit on September 27 last year, the BSE benchmark index is down 12,780.15 points or 14.86 per cent. The Nifty dropped 4,152.65 points or 15.80 per cent from its lifetime high of 26,277.35 hit on September 27, 2024.