Sensex, Nifty End Lower For Third Day; PSU Bank Index At 15-Month High
Third Day Of Losses
Indian equities declined for the third day in a row as private lenders and automobile companies underperformed.
The S&P BSE Sensex fell 0.7% to close at 51,324 while the NSE Nifty 50 index fell 0.6% to end at 15,119.
PSUs were the outperformers on the Nifty today. The top six gainers on the index were state-run companies. Gains were led by ONGC (up 7.6%) and GAIL (up 7%) along with OMCs like BPCL (up 4.2%) and Indian Oil (up 4%).
Banks were a tale of two extremes in today's weekly options expiry session. The Nifty Bank index ended with losses of close to a percent, while the index of state-run lenders rose for the fifth straight day to end at a 15-month high.
The other underperformers in today's session were auto stocks. The index ended 1.3% lower while the Media index fell 0.8%. Nifty FMCG and Nifty Pharma fell 0.4% and 0.5% each.
Other than PSU Banks, the Nifty I.T. and Nifty Metal indices gained in today's session, both ending 1.3% higher.
Broader markets outperformed yet again. The Nifty Midcap index rose 0.5% while the Smallcap index ended 1% higher.
The India Volatility Index ended little changed at 21.54.
1,050 stocks on the NSE ended with gains while 856 stocks ended lower.