Charges over the money laundering on some of the top private sector banks pulled the benchmark S&P BSE Sensex down by almost 143 points to end at 19,427.56 amid weak European advices.
Reflecting the sell-off in the concerned private banks, ICICI Bank, HDFC Bank and Axis bank dropped between 0.90 per cent and 3.93 per cent. ICICI Bank and HDFC Bank together contributed over 80 points fall in the Sensex.
The Bombay Stock Exchange 30-share gauge resumed stable and immediately moved up to a high of 19,673.16. But later it fell back to settle at 19,427.56, exhibiting a fall of 142.88 points or 0.73 pct. On Thursday, it had spurted by 207.89 points or 1.07 per cent on rate cut hopes by the central bank.
The NSE 50-issue CNX Nifty also dipped by 36.35 points, or 0.62 per cent, to 5,872.60.
Heavyweights like RIL, Tata Motors, L&T and Bharti Airtel also closed with marked losses.
The market is now looking forward to the outcome of the Reserve Bank of India's (RBI) monetary policy meeting to be held on March 19 to get further direction, a broker said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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