Kamal Ghorui
MUMBAI: The weakness of the rupee and foreign fund selling due to geopolitical concerns weighed on investor sentiment on Dalal Street on Friday, and the resultant selling pulled the sensex down by 770 points (0.9%) to 81,538 points. On the NSE, the broader Nifty slid 241 points (1%) to close just above the 25K mark, at 25,049 points.According to Ajit Mishra, SVP (research), Religare Broking, markets were volatile and declined nearly 1%, resuming the prevailing corrective trend. “Market sentiment was weighed down by renewed concerns over global trade and geopolitical developments, along with continued foreign institutional selling. Currency weakness further added to the negative bias, as the rupee slipped to fresh lows against the dollar during the session.“The day’s slide left investors poorer by Rs 6.9 lakh crore with BSE’s market capitalisation now at Rs 451.6 lakh crore, official data showed.Foreign funds led the selling with a net outflow of Rs 4,113 crore, BSE data showed. So far in the month, foreign funds have net sold stocks worth nearly Rs 33,600 crore, data from NSDL showed.
