Sensex, Nifty At Two-Week Low; PSU Bank Index Slumps Over 2%
Indian equity benchmarks fell for second day to hit their lowest level in two weeks as metal, PSU banking and capital goods shares came under heavy selling pressure.
The S&P BSE Sensex fell 0.69 percent or 236 points to 33,774.66 and the NSE Nifty 50 Index tumbled 0.71 percent or 74 points to 10,378.40.
The losses were broad-based as the S&P BSE MidCap and S&P BSE SmallCap indices fell around one percent.
All sector gauges compiled by the National Stock Exchange ended lower led by the Nifty PSU Bank Index's 2.46 percent drop.
Nifty Bank Off Intraday Lows, Reclaims 25,000
Nifty Bank index came off day's low led by buying in Kotak Mahindra Bank, Axis Bank and HDFC Bank. Nifty Bank index was down 0.65 percent at 25,000 level.
Fab Four Stocks Of The Day
- Kwality: The dairy products maker rose 4 percent on conversion of warrants and upgrade by KR Choksey Securities.
- Religare Enterprises: The financial service provider rose as much as 5 percent after it revamped its top management following exit of founders.
- KPR Mills: The apparel maker gained nearly 8 percent as its board will consider buyback of shares on Feb. 22.
- RPG Lifescienes: The drug maker rose nearly 6 percent after 24.5 lakh Shares Change Hands in a block.
Stocks Moving On Heavy Volumes
Vipul: The Delhi-based real estate developer rose 2 percent to Rs 65.50. As many as 18.57 lakh shares changed hands compared with an average of 2,733 shares traded daily in the past two weeks.
RPG Life Sciences: The drug maker rose 5 percent to Rs 480.40. As many as 25 lakh shares changed hands compared with an average 5,500 shares traded daily in the past two weeks.
Laxmi Machine Works: The industrial machinery maker rose 0.16 percent to Rs 5.870. As many as 4.27 lakh shares changed hands compared with an average of 1,027 shares traded daily in the past two weeks.
KEC International: The heavy electrical equipment maker fell 3.75 percent to Rs 377. As many as 29 lakh shares changed hands compared with 1.38 lakh shares traded daily in the past two weeks.