Sensex, Nifty Lose 1% After Sharp Slide In Final Hour, Dragged By Banking, Metal Stocks: Market Wrap
The Sensex lost over 500 points to 56,598.28. The Nifty 50 also declined nearly 1% to 16,858.60.
India’s equity benchmarks lost nearly 1% after a sharp slide in the final hour, dragged by banking and metal stocks.
The Sensex lost more than 500 points to close at 56,598.28. The Nifty 50 also declined nearly 1% to end at 16,858.60.
Of the Nifty 50 constituents, 15 stocks rose, while 35 fell.
Hindalco Industries Ltd., JSW Steel Ltd., Axis Bank Ltd., ITC Ltd., Reliance Industries Ltd. were among the top losers.
The broader indices outperformed their larger peers. The mid- and small-cap indices lost less than 0.5%. Fourteen of the 19 sectoral measures compiled by BSE Ltd. declined, with metal falling 2.3% and bankex shedding 1.5%.
The market breadth was skewed in favour of the bears. About 1,342 stocks rose, 2,085 fell and 105 remained unchanged.