Sensex, Nifty Decline For The Fifth Day Led By I.T., Pharma
An employee walks past an electronic board that indicates the latest stock figures at the National Stock Exchange (NSE) in Mumbai (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Decline For The Fifth Day Led By I.T., Pharma

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A Weak Close But Off Day's Lows

Indian equities ended lower for the fifth straight day as benchmark indices looked for support at lower levels. Highest addition to new Covid-19 cases in the last three months, a spike in U.S. bond yields and volatility related to the weekly options expiry kept sentiment risk-off.

The S&P BSE Sensex ended 1.2% lower at 49,216 while the NSE Nifty 50 fell 1.1% in today's session to end at 14,557. The Sensex has declined over 2,000 points over the last five trading sessions while the Nifty has seen a correction of over 600 points.

Losses in today's session were led by technology stocks along with drugmakers. The Nifty I.T. index was the top sectoral laggard, ending 3.1% lower while the Nifty Pharma index declined 2.3% at the close of trading. The PSU Bank index fell 1% while the Nifty Bank saw losses of 1.1% after a brief recovery from the day's low.

The Realty index too saw losses of 1.5%. FMCG and Metal indices managed to end little changed.

Broader markets fell in-line with the benchmark indices. The Nifty Midcap index fell 1.4% while the Smallcap index declined 1.3% at the close of trade.

The India Volatility Index ended little changed for the second day in a row, at 20.08.

1,462 stocks on the NSE ended with losses while 444 managed to buck the trend and close higher.

How Did The Sectoral Indices Fare

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