Closing Bell! Share Market witness deeper cuts at close, Sensex down 500 pts, Nifty below 17400 – Metal stocks crack
The Indian markets witnessed a bloodbath on the first day of this week, following decline in global markets.
The Indian markets witnessed a bloodbath on the first day of this week, following decline in global markets. It ended negative with Sensex slipping over 500 points and Nifty50 down 17400 levels after briefly volatile session Monday. Metal Index cracked most by around 7 per cent today.
The BSE Sensex slumped over 524.96 points or 0.89 per cent to 58,490.93, while Nifty50 slipped over 218.85 points or 1.24 per cent to 17,366.3 levels. Similarly, the mid-cap index following the suite of benchmarks too tumbled almost over 644 points or 2.16 per cent to 29,254.85 levels on Monday.
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Leading the decline in the market today, Nifty Bank along with other sectors dragged the Nifty50, as it slipped over 666 points or 1.76 per cent to 37145.7, led by SBI and IndusInd Bank.
Out of 50 scrips on Nifty50, 7 advanced, 43 declined at the market close on Monday. Metal stocks such as Tata Steel cracked by 10 per cent dragging the market most, followed by JSW Steel down near 8 per cent, Hindalco tumbled over 6 per cent and UPL declined by over 5 per cent today.
On the contrary, HUL, which was top gainer at open today, maintained its stance ending as the lead gainer in otherwise negative market, it grew by around 3 per cent, followed by Bajaj Finserv up over 1 per cent. While stocks such as ITC, Nestle India, HCL Tech, Britannia and Reliance Industries gained marginally in negative market today.
The majority of the sectoral indices ended in the red except for Nifty FMCG, up around 1 per cent. While Nifty Metal slumped over 6.5 per cent dragging the market most, followed by Nifty Bank, Auto and Financial Services each down around 2 per cent at the market close on Monday.
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