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The key benchmark indices were sharply lower on Friday, tracking a plunge in global
on infaltion fears and ahead of the US May CPI data, which remains a crucial pivot for investors around the world.
The BSE Sensex fell over 700 points to 54,580, while the NSE Nifty shed 200 points to hover around 16,250..
In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 0.9 per cent.
Sectorally, all indices suffered losses. Nifty Metals and IT slumped the most, down up to 1.7 per cent. Nifty Banks, Financials, Pharma and PSBs were the other notable drags.
Among stocks, IIFL Finance rose around 5 per cent, defying a weak market. The company’s wholly-owned subsidiary IIFL Home Finance has entered into definitive agreement for raising Rs 2,200 crore for a 20 per cent stake from the Abu Dhabi Investment Authority (ADIA).
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