Sensex, Nifty End Lower As Banks, Metals Drag
The euphoria of the S&P BSE Sensex crossing the 50,000 mark in today's trading session was offset by the volatility as a result of the weekly options expiry.
Benchmark indices ended lower in today's session as banking and metal stocks were a drag.
The S&P BSE Sensex ended 0.3% lower at 49,624. The index traded above the mark of 50,000 and 50,100 for most parts of the session, before falling as much as 800 points from the day's high of 50,184.
The NSE Nifty 50 too fell nearly 200 points from the day's high to end 0.4% lower at 14,590.
All sectoral indices ended lower with the PSU Bank index ending as the top laggard with losses of 3.3%. The Nifty Bank index too fell 350 points or 1.1% to end at 32,186.
Other underperformers of the day were Metals, with the metal index ending 2.2% lower while the Media index ended 2% lower.
The Nifty Pharma index fell 1.4% while the I.T. index declined 0.6%.
Broader markets too witnessed a correction in the second half of trade. They ended up underperforming the benchmarks. The midcap index fell 1.2% while the smallcap index declined 0.6%.
The India Volatility Index rose 2.9% to end at 22.18.
621 stocks on the NSE ended with gains while 1,296 stocks posted losses.