Sensex, Nifty End Lower For The Second Day But Post Gains For The Week
Second Day Of Losses
Indian equities ended lower for the second straight day but off the day's low. Losses were led by state-run lenders and metal stocks.
The S&P BSE Sensex ended 0.9% lower at 50,045 while the NSE Nifty 50 index ended 1% lower at 14,938. Despite today's losses, both Sensex and Nifty ended with gains for the week after two successive weeks of losses.
Losses today were led by the PSU Bank index, which fell 4% while the Nifty Metal index declined 2.7% in today's session. The Nifty Bank index ended 600 points or 1.6% lower as did the Nifty I.T. index which declined a similar quantum.
Other sectoral laggards were the Nifty Pharma index which fell 1.3% while the Media index gave up gains and ended 0.9% lower while the Nifty Auto index declined 1%.
Broader markets ended lower and also underperformed the benchmark indices. The Nifty Midcap index index fell 2.1% while the Smallcap index declined 1.5% by the end of the session.
The India Volatility Index rose for the second day, climbing 5.8% to end at 25.56.
1,357 stocks on the NSE ended with losses while 556 stocks bucked the trend to post gains.