Sensex sheds 365 pts amid rate hike concerns; Nifty below 19,300; financials, IT shares decline

Benchmark Sensex declined by 365 points and Nifty settled below the 19,300 level in a volatile trade on Friday as financials, IT and oil shares took a hit amid concerns over potential rate hikes and weak trend in global markets. Falling for a second day in a row, the BSE Sensex closed lower by 365.83 points or 0.56 per cent at 64,886.51. During the day, it dropped 519.77 points or 0.79 per cent to 64,732.57. The NSE Nifty declined by 120.90 points or 0.62 per cent to end at 19,265.80.