Profit-taking also came into play as the 30-share BSE Sensex tanked 609.28 points or 0.82 per cent to settle at 73,730.16. During the day, it lost 722.79 points or 0.97 per cent to 73,616.65.
Share Market News: Shares of FIIs-backed Shanti Educational Initiatives will be in focus on Monday as they hit a 20 per cent upper circuit on April 27 i.e. on Friday. The stock opened in red at Rs 61.50 apiece but went on to hit the day’s high of Rs 74.40. This despite the market benchmarks Sensex and Nifty giving up a five-day rally as investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in global markets.
Rising global crude prices, a depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said.Profit-taking also came into play as the 30-share BSE Sensex tanked 609.28 points or 0.82 per cent to settle at 73,730.16. During the day, it lost 722.79 points or 0.97 per cent to 73,616.65.
The NSE Nifty declined 150.40 points or 0.67 per cent to 22,419.95.
On a weekly basis, the BSE benchmark advanced 641.83 points or 0.87, and the NSE Nifty climbed 272.95 points or 1.23 per cent. “The fall was on expected lines as both the benchmark indices had rallied for five straight sessions, and profit-taking has been due for some time.
The shares of Shanti Educational Initiatives, which has a market cap of Rs 1,133 crore, have been gaining for the last four days and have a 52-week high of Rs 109.40 apiece and a 52-week low price is Rs 52.01 on the BSE.
As per BSE analytics, the counter has delivered a multibagger return of 345 per cent in the last three years and 528 per cent in five years. However, it has offered a negative return of around 1.92 per cent in the last year.
Meanwhile, foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday, according to exchange data.The BSE benchmark climbed 486.50 points or 0.66 per cent to settle at 74,339.44 on Thursday. The NSE Nifty advanced 167.95 points or 0.75 per cent to 22,570.35.