While the BSE Sensex ended at 59,037.18, down by 427 points or 0.7 per cent from the Thursday closing level, the broader market Nifty50 settled at 17,617.15, down by 140 points ot almosy 0.8 per cent.
The other important reason was the selling off by the Foreign Institutional Investors which sold Indian equities worth Rs 9000 cr.
That was a doube whammy and the stock markets could not hold it and opened with a gap on Friday.
Startegy on Nifty50 – Singhi said that the next support level is 17,400 and 17,474 are the next support levels for the 5-share index.
On Wall Street, the Dow Jones Industrial Average slid 1.30%, the S&P 500 fell 1.89% and the Nasdaq Composite lost 2.72%.