The BSE Bank index was the worst performer among key indices with a steep fall of 463.96 points, or nearly 6.5 per cent at 6,749.78.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
Silver managed to recover some grounds.
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
A soap bar got delivered instead of a mobile phone to a buyer, defective Diwali lights were couriered to another and fake items were dispatched in yet another case.
In the currency markets, the rupee lost another 10 paise to close at 1-week low of 63.54 against the US dollar
India Inc's debt-to-equity ratio has fallen, from 0.92 in FY15 to 0.88 in FY16.
The international investors who are investing, merging and shaping India's new ecommerce start-ups are betting that if China can produce an Alibaba with an expected market value of $ 170+ billion market value when it does its IPO, India should produce at least one or two with a $5bn+ market value, says Ajit Balakrishnan.
RIL's standalone net profit rose one per cent quarter-on-quarter
Gandhi also called upon the government to immediately put money into the hands of the poor and provide a financial package to the industry to help revive the economy.
While efforts are being mounted on a war footing to arrest its spread, COVID-19 will impact economic activity in India directly through domestic lockdown. The second-round effects, it said, would operate through a severe slowdown in global trade and growth.
'Most importantly, marking a departure from the past, the RBI has made it clear that it is not overtly worried about the level of the local currency,' notes Tamal Bandyopadhyay.
In a filing with the US Security and Exchange Commission on Friday, Walmart said it would allow the initial public offering of Flipkart in four years at a valuation no less than what it invested in the e-commerce firm, if a grouping of minority shareholders asks for it.
The rupee had hit an intra-day low of 61.6750 on Friday, its lowest level since Oct. 17.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
For fast-moving consumer goods, growth is likely to be tepid.
In Singapore, oil prices eased in Asian trade today on a mixed US inventory report indicating tepid demand, while expectations of a return of Libyan supplies also weighed, analysts said.
The broad market depicted strength. 1,525 shares rose and 1,131 shares fell. A total of 156 shares remained unchanged
Rajiv Raj tells you why a store credit card is not a good idea, even though you are tempted with extra 'savings' of 10 per cent on your purchase or a 5 per cent cash back or a 'sign on bonus'.
This was the biggest single-day fall for the benchmark index since August 10 when it had fallen by 310 points.
Within IIP, the capital goods sub-index has contracted for seven continuous months, suggesting investment demand continues to be weak.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
Gross refining margins may decline sequentially but improving petro-chem margins will boost earnings
41 companies take back shares worth Rs 27,783 crore in FY17
Historically, overall credit has grown at 1.6 times GDP growth
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
The most consistent wealth creators since 2008 are all consumer-facing companies, says Devangshu Datta.
Banking stocks dipped with Nifty PSU Bank index falling 1.7% after the government notified the ordinance that seeks to tackle non-performing loans in the sector.
Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
Investor wealth slumped by Rs 1.55 lakh crore on Thursday today, dragged down by massive selling in the stock markets where nearly seven out of ten shares closed lower.
The company spokesperson expressed disappointment with the "unprecedented step of filing of a complaint before the NCDRC"
Silver also fell further by Rs 150 to Rs 34,200 per kg.
Maggi controversy seems far from ending, now Tamil Nadu starts scrutiny.
The cost of food has constantly been on the rise.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
Earnings growth is expected to accelerate as lingering toxic effects of note ban ease off and GST settles down. However, stock valuations are high and that means market is also overdue for correction, says Devangshu Datta.
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High retail inflation is exerting pressure on households to cut expenses wherever possible.
