Indian stock markets concluded in the negative region on Thursday with Sensex slipping 150 points, Nifty losing 51 points as shares of RIL and ICICI Bank plunged over 1% while all sectors of National Stock Exchange ended down.
Indian stock markets concluded in the negative region on Thursday with Sensex slipping 150 points, Nifty losing 51 points as shares of RIL and ICICI Bank plunged over 1% while all sectors of National Stock Exchange ended down. Amid the sectoral indices of NSE, Nifty PSU Bank, Nifty Media, and Nifty FMCG plummeted the most as shares of heavyweight companies from the respective sectors such as ITC, HUL, Dish TV, PVR, SBI, PNB, Bank of Baroda dragged heavily. The S&P BSE Sensex shed 150.2 or 0.44% to end at 33,685.54 whereas NSE Nifty settled at 10,360.15, down by 50.75 or 0.49% on Thursday. A cyclical trend was seen in the Indian equities, as around 1:20 pm, indices recovered most of their morning losses but fell in the late trades.
Shares of Asian Paints, M&M, HDFC Bank, Coal India, IndusInd Bank and ONGC emerged as the lead gainers rising up to 2.14% while stocks of Yes Bank, Reliance Industries, ICICI Bank, HUL, Tata Steel, Axis Bank, SBI, HDFC, ITC, Sun Pharma, TCS, L&T and Bharti Airtel lost 0.4-2.1% among the Sensex components. Amid the ‘A’ group shares of BSE, stocks of MMTC, Jaiprakash Associates, Central Bank of India, Hindustan Copper, Future Retail surged up to 20%.
Among the increased volatility in shares of PSU bankers, stocks of blue-chip PSBs such as State Bank of India, Punjab National Bank and Bank of Baroda slumped over 1% each with the benchmark Nifty PSU Bank index closing 0.73% lower at 2,940 on Thursday.
Shares of Indian Oil Corporation were the biggest loser out of the 50 scrips on NSE’s Nifty 50, Nifty Energy, Nifty PSE and Nifty CPSE indices. The stock of Indian Oil Corporation tanked as much as 3.01% to end at Rs 191.6 on NSE steering the Nifty Energy index to end down 1.27% at 13,667.15 on Thursday. A decent surge was seen among the constituent of Nifty Next 50 index with stocks rising up to 6.1%. Shares of Shriram Transport Finance, SAIL, United Spirits, DLF, PFC, Avenue Supermarts and Titan Company soared 1-6.1%.