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Closing Bell: Share market slips for 3rd day in row; Sensex, Nifty down over 1% - private banks drag the most
The Indian markets closed almost a month low on Friday, as Sensex tumbled over 600 points while Nifty ended below 17700-level.
The Indian markets closed almost a month low on Friday, as Sensex slipped tumbled over 600 points while Nifty ended below 17700-level. The decline mainly came from private banks along with IT stocks and Reliance Industries.
The BSE Sensex declined 678 points or 1.13 per cent at 59,307; while Nifty50 tumbled 185.6 points or 1.04 per cent to 17,671. In broader markets, the mid-cap index outperformed benchmarks to fall marginally 44.5 points or 0.15 per cent to 30,469.55 level at the market close today.
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Contributing most to the decline of the Nifty Index, Nifty Bank closed 250 points or 0.63 per cent lower to 39259 level, the fall was mainly led by private sector lenders.
As many as 20 stocks advanced and 30 declined on the Nifty50 index at the market close today. Tech Mahindra and NTPC slumped most at the close, down over 3 per cent, followed by IndusInd Bank and Kotak Bank each down near 3 per cent and L&T declined by around 2.5 per cent today.
On the contrary, UltraTech Cement gained most in otherwise weak market, up almost 3 per cent, followed by UPL and Shree Cement up nearly 2 per cent at the market close. While other stock such as Cipla, Dr Reddy, Tata Steel, Grasim, Maruti and Divis Lab each up between 1-2 per cent at close.
The majority of the sectoral indices gained, except for bank, financial and IT stocks. Nifty Bank fell 1 per cent today the close, while financial and IT too dipped over 1 per cent. Meanwhile, PSU Bank index surged most almost 2 per cent, while auto, metal, fmcg gain marginally today at the close
On Thursday, the share market witnessed a bloodbath as benchmarks declined around 2 per cent, with Sensex falling over 1100 pts and Nifty below 17900-mark. The benchmarks today extended the decline on the last day of the week today.
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