Sensex, Nifty Post Worst Week Since May; Nifty Bank Falls 2%
Closing Bell: In-Line With The Global Sell-Off
Indian equity markets posted their first weekly loss in three, after witnessing a sell-off in-line with that witnessed in global equities.
The S&P BSE Sensex ended 1.6% lower at 38,357 while the NSE Nifty 50 index ended below the mark of 11,333, down 1.7%. Maruti Suzuki India was the only stock out of the 50 Nifty constituents that ended with gains in today's session.
Banks were the major laggards in today's session. The Nifty Bank ended 2.1% lower in today's session, declining more than 450 points. The index ended 6% lower for the week, after having gained 10% in the week ending August 28. The PSU Bank index too declined 9% during the week.
Metals were the top laggards in today's session, with the index declining nearly 3% while Nifty Realty and Nifty Pharma fell over 2% each.
The FMCG and I.T. index ended 1% lower while Media and Auto, which were the only two sectoral gainers through the session, gave up gains to end lower as well.
Broader markets saw losses that were in-line with benchmarks. The midcap index ended 1.5% lower while the smallcap index declined 1%.
The India Volatility Index ended 7.1% higher at 21.95.
Market breadth remained in favour of the laggards. 570 stocks on the NSE ended with gains while 1,247 stocks posted losses.