Sensex Closes At 400 Points, Nifty At 10,700 Points

MARKET

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 slumped nearly 1% following a selloff in Asian markets, and as investors turned their focus to corporate earnings beginning next week.

The Indian rupee weakened against the US dollar for the second session, tracking losses in Asian currencies. The Sensex plunged over 300 points and the Nifty 50 slipped below 10,700 draged mainly by finance, metal and auto stocks.

Among major moves, shares of Dena Bank and Vijaya Bank slumped, while Bank of Baroda shares jumped after BoB announced share swap ratio of their proposed merger.