Sensex, Nifty Post Losses; Midcap, Smallcap Indices Outperform
Closing Bell: Benchmarks Halt Three-Day Surge
India's benchmark indices ended lower after gaining for three-straight days on the back of weak global cues and a stronger U.S. Dollar.
The S&P BSE Sensex ended 1% lower at 38,220 while the NSE Nifty 50 index managed to hold the mark of 11,300, ending 0.84% lower at 11,312.
NTPC ended as the top gainer on the Nifty 50 index, with gains of 7%, while Tata Motors was the top laggard, ending 2.6% lower. ICICI Bank, Axis Bank and HDFC were the other major laggards.
Midcaps and Smallcaps were the outperformers in today's session. The midcap index ended 0.8% higher while the smallcap index ended with gains of 0.66%.
Among the sectoral indices, the Nifty Bank ended as the top laggard with cuts of 1.3%. The Media index posted another day of gains, ending 3% higher while the Metal index saw gains of 1%.
Other sectoral laggards included the FMCG, I.T. and auto index which fell close to 0.5% each.
Market breadth remained in favour of the gainers. 1,029 stocks on the NSE posted gains while 806 declined.