Mumbai: Snapping its three-session rising streak, equity benchmark Sensex tumbled 487 points on Friday, tracking losses in financial and auto stocks.
After gyrating 1,283 points during the day, the 30-share BSE index ended 487.43 points or 0.95 per cent lower at 50,792.08.
The broader NSE Nifty tanked 143.85 points or 0.95 per cent to end at 15,030.95.
Bajaj Auto was the top loser in the Sensex pack, falling around 3 per cent, followed by Maruti, ICICI Bank, Sun Pharma and Reliance Industries.
On the other hand, PowerGrid, ONGC, Titan and Infosys were the gainers.
According to Binod Modi, Head - Strategy at Reliance Securities, after seeing a brisk opening on favourable global cues, domestic equities fell sharply mainly led by selling pressure in financials and auto stocks.
"10-Year US treasury yield again surged back to 1.6 per cent on anticipation of spike in inflation led by USD 1.9 trillion fiscal stimulus backed faster economic recovery. This has weighed on investor sentiments," he said.
Hardening bond yields and soaring oil prices are also expected to weigh on investor sentiment and may keep markets volatile in the near to medium term, he added.
Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo ended on a positive note, while Hong Kong was in the red.
Stock exchanges in Europe were also trading in losses in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.09 per cent lower at USD 69.57 per barrel.
Rupee Climbs For 3rd Day, Up 12 Paise Against USD
Extending its gaining streak for the third day in a row, the Indian rupee advanced by another 12 paise to close at 72.79 against the US dollar on Friday amid some easing of crude oil prices.
At the interbank foreign exchange, the Indian unit opened at 72.66 but surrendered some gains as the trade progressed and closed the session at 72.79 -- showing a rise of 12 paise to the dollar.
In the last three sessions, the Indian currency has gained 46 paise against the American currency.
Forex market was closed on Thursday on account of Mahashivratri'.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.57 per cent to 91.94.
Global oil benchmark Brent crude futures fell 0.13 per cent to USD 69.53 per barrel.
On the domestic equity market front, the BSE Sensex slumped 487.43 points or 0.95 per cent to close at 50,792.08, while the broader NSE Nifty ended lower by 143.85 points or 0.95 per cent at 15,030.95.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 15.69 crore on Wednesday, according to exchange data. PTI MKJ
Gold Declines Rs 291; Silver Tanks Rs 1,096
Gold in the national capital declined Rs 291 to Rs 44,059 per 10 gram on Friday reflecting fall in international prices of the precious metal and rupee appreciation, according to HDFC Securities.
In the previous trade, it had closed at Rs 44,350 per 10 gram.
Silver also tanked Rs 1,096 to Rs 65,958 per kg, from Rs 67,054 per kg in the previous trade.
The Indian rupee jumped 20 paise to trade at 72.71 against the US dollar in opening deals on Friday.
In the international market, both gold and silver were trading lower at USD 1,707 per ounce and USD 25.67 per ounce, respectively.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices traded lower on Friday with dollar recovery paring some of the weekly gains."
(This story is a compilation of PTI stories)