The indices, however, recovered most of their losses during the session, thanks to gains in shares of Reliance Industries, Hindustan Unilever, and Asian Paints.
Representative Image (Photo: IANS)
Benchmark indices ended on a negative note, following the global trend, with Nifty breaking its 14-day winning streak.
Selling was seen across the sectors barring realty, FMCG, and pharma.
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Sensex was down 202.80 points or 0.25% at 82,352.64, and the Nifty was down 81.10 points or 0.32% at 25,198.70 at the close.
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Opened sharply lower by 710 points at 81,845.50, the sensex remained in the red throughout the session. It touched the intraday low of 81,833.69, down 722 points.
On the other hand, Nifty 50, opened at 25,089.95 against its previous close of 25,279.85 and touched its intraday low of 25,083.80.
The indices, however, recovered most of their losses during the session, thanks to gains in shares of Reliance Industries, Hindustan Unilever, and Asian Paints.
Among sectors, Nifty PSU Bank (1.69%), IT (0.94%) and Metal (0.75%) closed as the top losers. Nifty Bank closed with a loss of 0.56% while the Private Bank index declined 0.65%.
BSE Midcap index ended marginally lower, while Smallcap index ended in the green. On BSE, over 250 stocks touched their 52-high.
These included Alkem Laboratories, Biocon, BLS International, Bombay Burmah, CCL Products, Colgate Palmolive, FDC, HPCL, JM Financial, Jubilant Ingrevia, Lupin, Marksans Pharma, Max Financial, Morepen Lab, NIIT, Piramal Pharma, PNB Housing Finance, among others.
On Nifty50, shares of Wipro, Coal India, and ONGC ended as the top losers while the Asian Paints, Grasim, and Hindustan Unilever ended as the top gainers.
Small-cap stocks have shown a wild ride, with Godfrey Phillips soaring by 52% while Cochin Shipyard falling by 16%.
Tata Consultancy Services and Reliance Industries led the charge with massive market cap gains.
However, the Hindustan Zinc and Mazagon Dock Shipbuilders faced significant declines. Shares of Coal India (CIL) dropped by 4%, hitting a low of ₹500.70 on the BSE.
CIL reported 52.1 million tonnes in sales volumes on Monday, a 12% decline year-on-year.
Ola Electric Mobility has seen its shares continue to decline in recent sessions after an initial strong surge following listing. The stock dropped 3% to ₹110 per share, marking the sixth consecutive session of losses.
On the global front, market sentiment was dealt a blow after data showed US manufacturing remained subdued in August, reigniting concerns over an economic slowdown in the world’s largest economy.
Following a sharp over 3% fall in Nasdaq overnight, several Asian markets, such as Japan’s Nikkei and Korea’s Kospi, fell up to 4%.
Among the European markets, the UK’s FTSE, France’s CAC and Germany’s DAX declined by almost a per cent each during trade.
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