Auto Stocks Put The Brakes On Sensex, Nifty’s Weekly Gains
Closing Bell: A Weekly Loss
Indian equity markets ended a week of consolidation with losses, as benchmark indices continued to face pressure at higher levels.
The S&P BSE Sensex ended 1.13% lower at 37,877 while the NSE Nifty 50 index ended 1% lower at 11,181. Both benchmarks recovered marginally from the day's low.
Auto and PSU Banks were the top laggards in today's session with both the indices ending lower by 2.5% each.
The top three laggards on the Nifty 50 index were Auto stocks, namely Eicher Motors (down 7.1%), Tata Motors (Down 4.8%) and M&M (Down 3.3%). The Auto index snapped an eight-day gaining streak.
The Nifty Bank index to fell over 2% in today's trading session.
FMCG and Media indices were the other sectoral indices, declining over 1% each.
Broader markets too fell in tandem with the benchmark indices. The midcap index ended 0.9% lower while the smallcap index ended with losses of 1.2%
India Volatility Index ended 5.8% higher, snapping an eight-day losing streak to end above the mark of 20 at 21.77.
Market breadth was in favour of the laggards. 1,130 stocks on the NSE ended with losses while 710 posted gains.
For the week, the Nifty ended with losses of 0.3% while the Sensex posted losses of 0.4%.