1. Sensex, Nifty tumble amid selling pressure; pharma, PSU banks, realty stocks dive

Sensex, Nifty tumble amid selling pressure; pharma, PSU banks, realty stocks dive

The broad selling pressure was visible as the BSE mid-cap index declined 1.56% and small-cap index slumped nearly 2%. Shares of pharmaceutical companies like Sun Pharma, Lupin, Cipla, Dr Reddy's Labs and Aurobindo Pharma were among the worst hit.

By: | Published: May 23, 2017 4:43 PM
The benchmark Sensex ended over 200 points lower, down 0.67% or 205 points at 30,365.25 points while the broader Nifty 50 edged below the psychological level of 9,400 points to close down 0.55% or 52 points at 9,386.15 points.

Indian benchmark indices ended lower today amid sustained selling during the day. The benchmark Sensex ended over 200 points lower, down 0.67% or 205 points at 30,365.25 points while the broader Nifty 50 edged below the psychological level of 9,400 points to close down 0.55% or 52 points at 9,386.15 points.

The broad selling pressure was visible as the BSE mid-cap index declined 1.56 percent and small-cap index slumped nearly 2 per cent. Most sectors such as pharma, realty, power, oil & gas, capital goods and PSU banking were among the biggest losers in today’s sessions. Shares of pharmaceutical companies like Sun Pharma, Lupin, Cipla, Dr Reddy’s Labs and Aurobindo Pharma were among the worst hit.

Towards the end of trading, BSE Sensex slipped 136.5 points as Indian Army announced that it has engaged posts of Pakistan Army as a pre-emptive measure to counter terrorism and released a 24-second video showing the carnage that was caused.

Day’s top gainers on the BSE were Maruti Suzuki India up 2.70% at Rs 6,880.30; Mahindra & Mahindra up 1.71% at Rs 1,329.35 and Wipro up 1.15% at Rs 526.70. The top losers were Adani Ports down 6.19% at Rs 332.05; Cipla down 4.89% at Rs 533.15, Sun Pharma down 4.33% at Rs 612.55.

Indian Rupee fell 34 paise or 0.54 percent to 64.89 against the U.S. dollar, its lowest since April 3, compared to the previous close of 64.55. Earlier, in opening trade Rupee had opened down eight paise at 64.63 against the US Dollar and soon had slipped 23 paise to 64.78 due to an increased demand for the US currency from importers. Early losses in stock markets had also maintained a pressure on the domestic currency.

A total of 22 scrips on the 30-share Sensex fell whereas 8 scrips ended higher, while on the 51-share Nifty, 18 scrips advanced while 33 scrips declined.

Market breadth turned extremely negative as on the BSE 2,115 stocks declined while 605 stocks advanced and 158 remained unchanged.

The total market cap of BSE Sensex was Rs 51.4754 lakh crore. The Price to Earnings (PE) multiple of the Sensex stood at 22.54 while its Price to Book value (PB) multiple was at 2.96 and the Dividend Yield was at 1.31.

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