# Business

Sensex below 39,000, Nifty below 11,600, Financial Stocks Weigh; metal, bank under pressure

The S&P BSE Sensex index rose as much as 216.34 points to 39,306.37 in early trade and declined 317.00 points from that level to hit 38,950.10

SNS | New Delhi | September 24, 2019 12:01 pm

Sensex below 39,000, Nifty below 11,600, Financial Stocks Weigh; metal, bank under pressure

Sensex plunged after two days of sharp gains following the government’s decision to cut corporate taxes, domestic stock markets clocked only mild gains on Tuesday.

The S&P BSE Sensex index rose as much as 216.34 points to 39,306.37 in early trade and declined 317.00 points from that level to hit 38,950.10 on the downside at the day’s weakest mark. The broader NSE Nifty benchmark moved in a range of 93.5 points in the first half of the session, between 11,655.05 and 11,544.05 at the day’s strongest and weakest levels respectively. Among sectors, bank, auto, infra, metal are under pressure, while buying seen in the pharma, energy and IT.

On Monday, the Sensex had ended 2.83 per cent higher at 39,090.03 – its highest closing level recorded since July 17 – and the Nifty settled up 2.92 per cent at 11,603.40.