Sensex down 759 points to 50,280 in opening session, Nifty slides 220 points

Sensex on Friday tanked more than 700 points to 50,280 in opening session. While Nifty was down by 246 points and was trading at 14,850.

On Thursday, the indices had closed in green due to favourable global cues amid optimism over domestic economic recovery and the government’s privatisation plans.

The BSE Sensex had gained 258 points and was up by 0.51 per cent at 51,039 in the closing session on Thursday evening. While the Nifty 50 ticked was up by 115 points or 0.77 per cent to 15,097.

This comes after Wall Street’s main indexes ended sharply lower on Thursday, with the Nasdaq index posting its largest daily percentage fall in four months, as technology-related stocks remained under pressure following a rise in US bond yields. The latest fall in the Wall Street erased the markets gain for the week.

Asian shares also skidded as Tokyo, Hong Kong and Sydney all fell 2% or more in early trading Friday.