Nifty Ends In Red For 8th Consecutive Day, A First In 2 Years

The major market selloff has enveloped the Indian markets, and a reflection of that is visible in the overall decline that the indices have experienced over the recent past. Even on Friday, the equity markets had another seesaw day, with the benchmark indices closing in red yet again.

Markets In Decline

As the day came to an end, the BSE Sensex slumped with losses of 199.76 points, or 0.26 per cent, ending the day at 75,939.21. 

The Nifty Bank also closed in red. The index closed at 49,058.00, decreasing by 301.85 or 0.61per cent.

Here, the star of the National Stock Exchange, or NSE, the Nifty 50, also closed in red, with losses of 134.10 points, or 0.58 per cent, to close at 22,897.30.

Nifty 50's Free Fall

This marked the 8th straight day of losses for the index. A development that is a first in 2 years.

It has its worst day on February 11, which was a Tuesday, when the company index opened at 23,383.55 and hit the high point of 23,390.05. In addition to slipping to the low of 22,986.65.

Eventually, the index closed at 23,071.80. This meant a colossal decline of 1.32 per cent or 309.80 in just a single trading session.

On Monday, February 10, at the beginning of the new trading week, the index lost 0.76 per cent or 178.35 points, in its total value. This came to pass, as the index opened at 23,543.80.

Adani Ports Among The Losers

The index hit a high of 23,568.60, it also hit a low of 23,316.30. The Nifty index closed on Monday at the low of 23,381.60 points.

It faired a little better on February 12, when the benchmark saw a negligible 0.12 per cent or 26.55 points slump.

In the past 5 trading sessions, or in a week's time, the index has shrunk by 2.32 per cent or 544.40 points.

One of the biggest losers at the NSE end on Friday included the likes of Adani Ports, Bharat Electronics Limited, and Adani Enterprises, who all lost over 4 per cent of their value.