The benchmark indices erased intraday gains to end near day’s low dragged by bank and metal stocks.
At close, the Sensex was down 162.78 points or 0.29 per cent at 55,629.49 and the Nifty was down 45.75 points or 0.28 per cent at 16,568.85.
About 1037 shares have advanced, 2067 shares declined and 110 shares remain unchanged.
On the Nifty 50 index, Eicher Motors (2.94 per cent), Ultratech Cement (2.60 per cent), Bajaj Finance (2.09 per cent), Adani Ports (1.84 per cent) and Bajaj Finserv (1.83 per cent) were the top gainers for the day, while Hindalco (-2.21 per cent), Kotak Mahindra (-2.16 per cent), ICICI Bank (-1.84 per cent), SBI Life Insurance (-1.83 per cent) and Tata Motors (-1.46 per cent) were the top losers for the day.
On the sectoral front, Nifty Metal and Nifty Bank fell 0.8 per cent each, while some buying was seen in the FMCG, Pharma and PSU Bank stocks.
The BSE Midcap index was up 0.26 per cent, while the smallcap index was down 0.18 per cent.
Author’s View: It is going to be crucial for the short-term market scenario to sustain above the 16500 level. Traders should refrain from building a new buying position until we see further improvement in the market breadth.
Disclaimer: The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.
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