After opening higher on Friday, the 30-share index Sensex dangled on the back of selling pressure seen across board in pivotal stocks.

The stock market was dragged by heavyweights including, L&T, ICICI Bank, BHEL Reliance Energy, HDFC Bank, DLF, HDFC, Reliance Communications, Infosys and SBI.

The index dropped further on the news that inflation has touched a 3-year high of 7%, on rising prices of food, vegetables, minerals and manufactured items. as During the last week, inflation growth was 6.68% and was 6.54% in the corresponding week a year-ago.

Finally, the BSE Sensex marked its closure at 15,343.12 after shedding 489.43 points, whereas broad-based NSE Nifty ended the week after losing 124.6 points at 4,647.00. The index touched the intra-day low of 15,303.04 as the news of inflation touching 7 per cent tricked in.

On the other hand, Asian stocks also turned down on Friday ahead of US non farm pay roll data that will direct capitalists regarding the state of the world`s largest financial system.

Among the sectoral indices at BSE Metal lost 1.09%, BSE IT, Oil & Gas Bankex, Auto, Realty and Power lost more than 2 percent. 

The stock market experienced 808 advancements as compared to 1,823 declinations.

The major gainers of the day were Ranbaxy, which gained 2.55% at Rs 458.25 and Tata Steel that climbed up 0.17% to end the week at Rs 660.70. 

The losers’ list included BHEL, HDFC, M&M, L&T, Wipro, Bharti Airtel, ICICI Bank, Maruti, RIL and Cipla.

Ispat Industries topped the volume chart with 21.54 million shares, RNRL witnessed volumes of 14.77 million shares and RPL with 1.45 million shares.

Traders stated that the stock markets were wrapped up with concerns that following inflation rising further stringent monetary measures, including a hike in Cash Reserve Ratio (CRR), could be on anvil.

A hike in CRR will have an effect on the market as it sucks out liquidity in banking system.