Sensex, Nifty Post First Consecutive F&O Series Gains Of 2020
Closing Bell: Heavyweights Drag The Market
Indian equity markets ended the July F&O series on a weak note, ending the day lower by nearly 1%.
The S&P BSE Sensex ended 0.88% lower at 37,736 while the NSE Nifty 50 index ended 0.9% lower at 11,102.
Both benchmark indices ended the July F&O series with gains. This is the first instance this year that the Sensex and Nifty have had back to back gains in a monthly F&O series.
Most sectoral indices ended lower. The Nifty Pharma was the outperformer for the second straight day, ending 3.1% higher. Gains today were again led by Dr. Reddy's Laboratories, which ended at an all-time high with gains of 4.6%.
The I.T. index was the other sectoral gainer, ending 0.7% higher.
The underperformers in today's trade included the Nifty Bank and the PSU bank index, both ending lower by 2%.
The media index was the top laggard, ending with losses of 2.3%. The Metal and FMCG index saw losses of 1%.
Broader markets too saw declines. The Midcap index declined 0.8% while the smallcap index fell 1.1%.
The India Volatility Index ended 3.2% higher at 24.9.
Market breadth ended in favour of the laggards. 1,141 stocks on the NSE ended with gains while 689 posted gains.