Sensex, Nifty slip on sixth straight trade session; Aurobindo Pharma, DHFL, Ashok Leyland stocks bleed
The stock market of India sinks on sixth straight trade session. The BSE Sensex lost 141 points and closed at 37,531 levels while the 50-stock Nifty went down 48 points and closed at 11,126 level after the closing bell trade session. The Bank Nifty index ticked 35 points up and closed at 27,767 levels.
Elaborating upon the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "The market is nosediving because the FIIs have become cautious on account of fresh trade talks taking place between US and China. He said that the Nifty has strong support at 11,100 levels and currently trading in the range of 11,100 to 11,250."
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YES Bank, Adani Green Energy, Shriram Transport Finance, National Aluminium Corporation Limited or NALCO, Indiabulls Real Estate, Steel Authority of India or SAIL stocks were among the major gaining stocks in the intraday trade session while Aurobindo Pharma, Dewan Housing Finance Limited or DHFL, Ashok Leyland, Bharat Petroleum and IDBI Bank stocks were the major losing shares on Monday.
Healthcare stocks led the bloodbath as the BSE Healthcare index shed 2.43 per cent in the intraday trade. Healthcare major Alembic share price crashed 5.95 per cent, Aurobindo Pharma shares nosedived more than 20 per cent, shares of Glenmark Pharmaceuticals shed 9.41 per cent, Lupin counter went down 3.29 per cent, Medicamen Biotech went southward 6.54 per cent while Piramal Enterprises scrip went off over 8 per cent.
Among major Asian markets, the Japanese Nikkei 225 index shed 0.16 per cent, South Korean Kospi ticked 0.05 per cent higher, Hang Seng crashed 1.11 per cent while the Shanghai market dipped 0.92 per cent.