Sensex slips 536 points, Nifty ends at 9,154; financials decline

The domestic stock markets were trading in the red on Friday amid weak global cues. The decision of Franklin Templeton Mutual Fund (MF) yesterday to wind up six of its debt schemes also eroded sentiment.

BSE Sensex ended at 31,327, down 536 points or 1.7 per cent while Nifty lost 160 points or 1.71 per cent to settle at 9,154.40 levels.

Franklin Templeton Mutual Fund today announced it would wind up six yield-oriented, managed credit funds in India, effective April 23, citing severe market dislocation and illiquidity caused by the coronavirus.

"The decision has been taken to protect value for investors via a managed sale of the portfolio," the Fund said in a statement.

Meanwhile, the rupee depreciated by 40 paise to settle at 76.46 (provisional) against the US dollar on Friday, tracking weak domestic equities and a strengthening greenback overseas.

Forex traders said market sentiment weakened after a potential antiviral drug for coronavirus reportedly failed its first trial.

The rupee opened lower at 76.30 at the interbank forex market and then fell further to 76.47 and finally closed at 76.46, down 40 paise over its last close.

The rupee had settled at 76.06 against the US dollar on Thursday.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced by 0.31 per cent to 100.74.

(With inputs from agencies)