Sensex, Nifty falls up to 1% as sentiments turn negative
New Indian ExpressIndia’s equity market failed to sustain Thursday’s gain as benchmark indices - BSE Sensex and NSE Nifty50 – plummeted up to 1% on Friday. "The market concluded the week with a pessimistic note as a sell-on-rally sentiment prevails in the market due to a strong US dollar, high valuation, and investors shift towards a multi-asset strategy,” said Vinod Nair, Head of Research, Geojit Financial Services. Market experts also feel that uncertainty surrounding US President-elect Donald Trump's economic policies and high valuations may impact the stock market in the short term, particularly in emerging markets. The Bank Nifty index fell sharply as it was pulled down by heavy selling in HDFC Bank and ICICI Bank, which ended lower by 2.53% and 1.94%, respectively.