New Delhi: Indian stock markets closed lower on Friday after four consecutive days of gains due to profit-booking and global selloff caused by technical glitches (IT outage).

Current market situation 

The BSE's major index Sensex fell 738.81 points and closed below the 81 thousand mark at 80,604.65 points. However, initially it had reached a high of 81,587.76 points.

Similarly, the NSE Nifty closed down 269.95 points at 24,530.90. Shares of several brokerage firms declined due to the IT outage. Shares of Angel One fell 3.42 per cent, 5Paisa Capital 3.15 per cent, Nuvama Wealth Management 2.25 per cent, Motilal Oswal 2.19 per cent and IIFL Securities 1.04 per cent on the BSE.

Why did it fall suddenly? 

Market experts say that before the budget, investors are taking profit while being cautious. Shares of Tata Steel and JSW Steel in the Sensex fell by about five percent.

Shares of these companies fell 

Shares of Tata Motors, NTPC, UltraTech Cement, Tech Mahindra, Bajaj Finance, PowerGrid, Mahindra & Mahindra and Reliance Industries also closed lower. This fall has reduced the wealth of investors by Rs 7.94 lakh crore. Now the market capitalization of all the companies listed on BSE has come down to Rs 446.38 lakh crore or $ 5.34 trillion. Earlier, BSE had increased by 1,446.12 points in four consecutive sessions.