Closing Bell: Market extends losses for the third day, Sensex slips by 433 points, Nifty goes below 17900
Amid weak global cues Indian benchmark indices ended lower for the third consecutive session on Thursday, November 11.
Domestic equity benchmarks suffered some sharp losses on Thursday, thereby falling for the third trading session in a row, due to weakness across global markets over surging inflation. Losses in IT, financial and consumer stocks pulled the indices lower, but gains in metal stocks lent some support.
At the closing bell on Thursday, the Sensex was down 433.13 points or 0.72% at 59,919.69, and the Nifty was down 143.60 points or 0.80% at 17,873.60. The market depth was negative as 1398 shares have advanced, 1769 shares declined, and 139 shares were unchanged.
On a day when a bloodbath was witnessed on Dalal Street, the major gainers on the Bombay Stock Exchange were Titan, M&M, Reliance and TCS. The top losers on Thursday were, SBI, Bajaj Twins, Tech Mahindra and Sun Pharma.
On sectoral basis, Bank, FMCG, auto, IT, pharma and realty indices slipped by 1-2%, while the metal index ended in the green. In the broader markets, the BSE midcap and smallcap indices fell 0.5% each.
The trending stock of the day was online food delivery platform Zomato which gained 6% to hit an intraday high of Rs 144 on November 11, as its revenue from operations more than doubled to Rs 1,024 crore in the July-September quarter due to a strong food delivery business and a rebound in the restaurant sector. However, its net loss has widened to Rs 435 crore from Rs 229 crore in the same period last year.
Another stock in focus was Thermax which rallied over 10% to close at Rs 1,522 after its profit nearly tripled to Rs 88 crore in September quarter from Rs 31 crore in the same period last year.
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