Stock market falls as NBFCs take a beating; RIL, HDFC, Infosys stocks down

Foreign portfolio investors sold shares worth Rs 6.2 billion. Even domestic institutional investors turned marginal sellers on Friday

The benchmark equity indices fell over 1 per cent for a second straight trading session as stress in the financial sector continued to weigh on investor sentiment. A slide in index heavyweights — Reliance Industries, HDFC, and Infosys — added to woes with the Sensex dropping as much as 640 points. 

Reliance Industries' shares ended 4.1 per cent down after the company's gross refining margin disappointed investors. Shares of technology companies posted declines over concerns that the United States government might tighten visa rules. 

The biggest sell-off, however, was seen in the shares of NBFCs, particularly housing finance firms, on fears that