The Indian domestic market nose dived on Friday with BSE Sensex losing over 1,000 points.
It touched an intra-day low of 35,993.64 points, against the previous close of 37,121.22 points. Nifty, too, cracked below 11,000. However, the Sensex recovered to trade at 36,825.92 points (1.12 pm), lower by 295.30 points or 0.80 per cent from the previous close.
In opening trade, the BSE Sensex rebounded over 300 points on value-buying in select bluechip stocks amid a firm trend in the global market on easing trade war concerns.
Sustained buying by domestic institutional investors and a strengthening rupee also supported the recovery. The 30-share BSE index recovered by 305.88 points, or 0.82 per cent, to 37,427.10 in early trade. The stock market was shut Thursday on account of Muharram.
The Sensex had lost 969.42 points in the previous three sessions.
Yes Bank was the top the loser in the Sensex pack by plunging 19 per cent after the RBI asked its managing director and CEO Rana Kapoor to step down after an extended term till January 31, 2019. Other losers were Infosys, HUL and TCS, falling up to 0.46 per cent.
