Sensex, Nifty tanked after 8-day rally. What triggered the selloff?
- Taking a breather after hitting record highs in previous sessions, Sensex and Nifty declined on Friday
Taking a breather after hitting record highs in previous sessions, Indian stock market declined on Friday, snapping their eight-session rally, amid weak global cues, as investors secured profits ahead of US payrolls data that could provide more cues on a shift in the US Federal Reserve's rate-hike plans. Sensex fell to close below 63,000 while the Nifty 50 index shed over 100 points to 18,696. However, the midcap and smallcap indices closed with gains.
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