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Second Straight day Sensex and Nifty ended scarce

The Bombay Stock Exchange Sensex and National Stock Exchange Nifty 50 indexes ended lower for second straight session sloped by slightness in banking, financial services and FMCG shares. However, losses were caped on the back of strong profit in pharma shares. Whereas, intense selling pressure in shares of banking in the last hour of trade led to weakness in the benchmark indexes. On the second day the Sensex drop as much as 344 points at the day’s lowest level and Nifty 50 index briefly fallen below 11,500.

The Sensex ended at 134 points or 0.34 per cent move down at 38,846 and Nifty 50 index faded 11 points or by 0.10 per cent to settle at 11,505.

7 of 11 sector gauges compiled by the National Stock Exchange ended fell along with the Nifty Public Sector Undertaking Bank index’s over 1.5 per cent

Nifty Bank, Private Bank, Financial Services and FMCG indexes also declined between 0.6-1.3 per cent.

On the other hand, pharma shares observed strong buying interest. The Nifty Pharma index was also highest sectoral gainer, up 5 per cent.

Mid and small shares ended on a reduced note as Nifty Midcap 100 index closed on a flat note while Nifty Smallcap 100 index declined 0.44 per cent.

The top Nifty loser was HDFC Bank, the stock fell 2.3 per cent and close at ₹ 1,058. On the other hand Shree Cements, Bajaj Finserv, Kotak Mahindra Bank, Maruti Suzuki, Titan, Hindustan Unilever, State Bank of India, Indian Oil, Coal India. Larsen & Toubro and Infosys also dropped between 0.73-2 per cent.

The top nifty gainer was Dr Reddy’s Labs the stock rose at 10 per cent to close at record high of ₹ 5,306.