By IANS,
Mumbai : A benchmark index for Indian equities Friday closed 296 points lower amid negative global cues and a gloomy picture for the economy the government painted in the current fiscal.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exhange (BSE), which opened at 16,258.44 points, closed at 16,191.38 points (provisional), 296.86 points or 1.8 percent down from its previous close at 16,488.24 points.
The government Friday officially sounded a warning that fiscal deficit targets could be breached in the current fiscal and that economy would grow at a slower 7.5 percent in the current fiscal amid global economic uncertainty.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading lower at 4,863.3 points, down 1.63 percent or 80.35 points from its previous close.
Broader markets also fell with the BSE 500 index closing 1.47 percent lower. The BSE midcap index slipped 0.89 percent while the BSE small cap index ended 0.95 percent down.