Sensex, Nifty’s Gaining Streak Ends; Nifty Bank Sheds 900 Points
Closing Bell: The Wait Gets Longer
Indian equity markets witnessed a sell-off in the second half of the weekly options expiry session, falling the most in nearly a month.
The S&P BSE Sensex ended 1.3% lower at 43,599 while the NSE Nifty 50 index fell 1.3% to end at 12,771. Both benchmark indices snapped a four-day gaining streak. 36 out of the 50 index constituents ended lower.
The Nifty Bank, which has been one of the biggest contributors to the Nifty's recent rally, was among the top laggards in today's session. The index shed 850 points or over 2.8% to end at 28,903. The PSU Bank index too ended 3.1% lower, courtesy losses in State Bank of India and was the top sectoral laggard.
The Nifty Realty index fell 1.4% while the I.T. index fell 1%.
The FMCG index and the Media index were the only two sectoral gainers, ending with gains of 0.4% and 0.3% respectively.
Broader markets outperformed but they too ended lower. The midcap index ended 0.6% lower. This marked the end of a 14-day winning streak for the index, which was the longest on record.
The Smallcap index too snapped a six-day gaining streak, ending with losses of 0.2%.
India Volatility Index ended 2.3% higher but remained below the mark of 20, at 19.57.
828 stocks on the NSE ended with gains while 1,011 stocks posted losses during today's session.