Continuing the losing streak, benchmark equity indices - Sensex and Nifty -- fell for the sixth straight session after amid high volatility as July derivative contracts expired. The 30-share Sensex ended 16.67 points or 0.04 per cent lower at 37,830.98.
Continuing the losing streak, benchmark equity indices – Sensex and Nifty — fell for the sixth straight session after amid high volatility as July derivative contracts expired. The 30-share Sensex ended 16.67 points or 0.04 per cent lower at 37,830.98. The NSE Nifty too fell 19.15 points or 0.17 per cent to settle at 11,252.15. In the Sensex pack, Tata Motors was the biggest laggard, while Bajaj Finance, RIL, Yes Bank, NTPC and Tata Steel too fell significantly. On the other hand, Vedanta, Sun Pharma, IndusInd Bank, Axis Bank, PowerGrid, TCS, Tech Mahindra and Infosys were the major gainers. The stock markets are in a continuous fall for last many trading sessions on account of FPI selling post budget and weak global sentiments.
“Indian markets continued to fall for the 6th straight day as the weakness prevailed in the ongoing earnings season. The Bajaj twins Finserv and Finance tanked the most with over 4% decline. Bajaj Finance, the leader in the housing finance space faced flak from the Street due to higher provisioning and red flags raised in the digital and two-wheeler loans as well as lower disbursements,” Umesh Mehta, Head of Research, Samco Securities said.
The fall in markets today is reflecting participants’ disappointment to the earnings season so far, Ajit Mishra Vice President, Research, Religare Broking said. “Markets were already struggling with a lot of domestic and global issues and lack of support from the earnings front has further deteriorated the sentiment. We suggest continuing with negative bias and keeping extra caution in stock selection. Nifty has next major support at 11,100”, he added.