Logo

Logo

Market extends losses on 3rd consecutive session amid selling

Benchmark indices extended the losses on the third consecutive session amid selling across sectors barring Information Technology. At close, the Sensex was down 494.75 points or 0.61% at 81,006.61, and the Nifty was down 221.50 points or 0.89% at 24,749.80.

Market extends losses on 3rd consecutive session amid selling

Representative Image (Photo: IANS)

Benchmark indices extended the losses on the third consecutive session amid selling across sectors barring Information Technology. At close, the Sensex was down 494.75 points or 0.61% at 81,006.61, and the Nifty was down 221.50 points or 0.89% at 24,749.80. Notably, Nifty 50 fallen about 1.5 per cent in the last three sessions, and is now down 6 per cent from its all-time high of 26,277.35.

Over 240 stocks touched their 52-high on the BSE. These included Strides Pharma, Tech Mahindra, Gujarat Fluoro, CAMS, IFB Industries, Indigo Paints, Firstsource Solutions, CarTrade Tech, ICRA, Dhani Services, Oberoi Realty, among others. Nestle, Mahindra and Mahindra and UltraTech Cement closed as the top losers in the Sensex index.

Advertisement

On Nifty, Tech Mahindra, Infosys, L&T, Power Grid Corp and SBI were the top gainers while Bajaj Auto, Shriram Finance, Hero MotoCorp, Nestle and M&M were on the losing side. Mid and smallcap segments suffered deeper losses with the BSE Midcap index plunged 1.65%, while the BSE Smallcap index declined 1.42 per cent.

Advertisement

The overall market capitalisation of BSE-listed firms listed on the BSE plunged to nearly Rs 457.3 lakh crore from nearly Rs 463.3 lakh crore in the previous session. Among the sectors, barring Nifty IT, which rose 1.19 per cent, all ended with losses.

Nifty Realty (down 3.76 per cent), Auto (down 3.54 per cent), Consumer Durables (down 2.20 per cent) and Media (down 2.18 per cent). Shares of Bajaj Auto tanked over 13 per cent after it posted lower-than-expected net profit in the second quarter.

CRISIL shares slipped 1 per cent despite the rating firm reported a 12.9 per cent YoY increase in net profit at Rs 171.6 crore for the quarter ended September 30. Nestle India’s share price dropped almost 4 per cent after the FMCG major reported a marginal fall in the September quarter profit. Hero MotoCorp slipped 3.5 per cent, registering its biggest single-day drop.

Markets continued its downward trajectory despite firm US and European cues. The precarious situation in West Asia has led to volatile crude oil prices, leaving investors on edge.

Advertisement