Sensex slumps 361 points; Nifty ends below 17,550

Sensex slumps 361 points; Nifty ends below 17,550
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Mumbai, Oct 1: Extending its losses for the fourth straight session, equity benchmark Sensex tumbled 361 points on Friday, weighed by HDFC twins, ICICI Bank and TCS amid a weak trend in global markets.

The 30-share BSE index ended 360.78 points or 0.61 per cent lower at 58,765.58. Similarly, the NSE Nifty declined 86.10 points or 0.49 per cent to 17,532.05.

Bajj Finserv was the top loser in the Sensex pack, shedding over 3 per cent, followed by Maruti, Bharti Airtel, Asian Paints, Bajaj Finance and HDFC.

On the other hand, M&M, Dr Reddy's, UltraTech Cement and PowerGrid were among the gainers.

Benchmark indices fell for the fourth consecutive day on weak global cues, said Binod Modi, Head - Strategy at Reliance Securities.

Hevy selling pressure on financials (excluding PSU banks) and IT dragged the index. However, buying was seen in pharma, metals and PSU banks, he noted.

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