Sensex, Nifty End At Two-Week Low After Second Day Of Losses
Second Day Of Losses
Indian equities fell to a two-week low after declining for the second straight day. However, benchmark indices managed to recover some losses from the lowest point of the day, courtesy a rebound in metals and technology names. Banking majors too recovered from their respective day's low.
The S&P BSE Sensex ended 0.8% lower at 50,395 - recovering nearly 600 points from the lowest point of the day. The NSE Nifty 50 index fell 100 points or 0.7% to end at 14,929. The 50-stock gauge also recovered nearly 200 points from the day's low.
Among the sectoral indices, metals and I.T. stocks bucked the trend in today's session. The Nifty Metal index ended 1% higher while the I.T. index ended with gains of 0.6%.
The Nifty Bank index, which fell over 1,000 points intraday, recovered 750 points from the day's low to end at 35,182.
Other sectoral laggards in today's session were Pharma stocks, with the Nifty Pharma index ending 1.3% lower. The Media index also fell 1.4% in today's session.
Broader markets, which were outperforming at the start of trade, also ended lower in-tandem with the benchmark indices. The Nifty Midcap index fell 0.7% while the Smallcap index ended with losses of 0.8%.
The India Volatility Index fell from the day's high to end 2.2% lower at 21.23.
1,270 stocks on the NSE ended with losses while 679 stocks bucked the trend to post gains.