Closing Bell: Market extends losses, Sensex holds 60000, Nifty slips below 17900
Indian markets closed in red for the second consecutive trading session on November 17 as selling pressure was seen in realty, oil & gas, pharma shares.
Domestic equity benchmarks Sensex and Nifty began Wednesday's session on a negative note due to weakness across other Asian markets. During today's trading session, losses in oil & gas, IT and a few financial stocks dragged the headline indices lower, however, gains in automobile and consumer shares corrected the fall in the later stages. The broader markets were mixed with the smallcap index closing up by 0.3% and the midcap index closing down 0.2%.
At the closing bell on Wednesday, the Sensex was down 314.04 points or 0.52% at 60,008.33, and the Nifty was down 100.50 points or 0.56% at 17,898.70. On the market depth, around 1382 shares have advanced, 1758 shares declined, and 95 shares are unchanged.
Among the top Nifty losers of the day were, UPL, Reliance Industries, Axis Bank, Britannia Industries and IOC. Top gainers of the day were SBI Life Insurance, Asian Paints, Maruti Suzuki, Tata Motors and Power Grid.
On a sectoral basis, realty, oil & gas, pharma indices lost 1% each, while selling was also seen in the metal, capital goods, and banking stocks.
Among the trending stocks of the day were Asian Paints, Maruti Suzuki, SBI Life, Tata Motors, NTPC, ITC, Power Grid, IndusInd Bank and Tech Mahindra which rose between 1.2-2.4%.
On the flipside, UPL was the top Nifty loser, as the stock fell by 3.2% to Rs 755. Reliance Industries, Cipla, Britannia Industries, Axis Bank, Indian Oil, Coal India, Divi's Labs, Kotak Mahindra Bank, Eicher Motors, Grasim Industries, Adani Ports and Shree Cements also cracked by 1.6-2.2%.
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