Sensex, Nifty End Lower; Metals, Pharma, Banks Drag
Closing Bell: Another Rangebound Day
Indian equity markets ended lower after trading in a narrow range for most parts of the trading day.
The S&P BSE Sensex ended 0.14% lower at 38,365 while the NSE Nifty 50 ended 0.33% lower at 11,317.
Bharat Petroleum was the top gainer on the 50-stock index, ending with gains of 2.7%. Only 13 out of the 50 Nifty constituents ended the session with gains. Monday's top gainer Bharti Infratel was today's top laggard, ending 8.1% lower.
All sectoral indices barring I.T. ended with losses. The technology index ended with gains of 1% and was the only sectoral gainer.
Metals and Media stocks were the top laggards in today's session with their respective indices ending with declines of over 3% each. Other sectoral indices like Pharma, PSU Bank and Realty fell between 1.5%-2%.
Broader markets underperformed in today's session. The midcap index fell 1.6% while the smallcap index declined 1.1% at the close of trade.
The India Volatility Index rose 4% courtesy a surge in the final minutes of trade to end at 22.87.
Market breadth was adverse with the broader markets underperforming. 1,251 stocks on the NSE ended with losses while 560 posted gains.