Heavy selling in banking, auto stocks drags Sensex
Mumbai, October 3
Key stock indices Sensex and Nifty declined over 1% at close on Monday due to heavy selling in banking, auto and FMCG shares amid weak global market trends and continued foreign fund outflows.
Reversing its previous session’s gains, benchmark BSE Sensex tumbled 638.11 points to settle at 56,788.81. During the day, it tanked 743.52 points to 56,683.40. The broader NSE Nifty fell by 207 points to end at 16,887.35 as 42 of its constituents declined.
Among Sensex stocks, Maruti fell the most by 3.16%, Hindustan Unilever by 2.77%, IndusInd Bank by 2.55%, ITC by 2.32%, Bajaj Finance by 2.26%, State Bank of India by 2.15%and Kotak Mahindra Bank by 2.03%. Dr Reddy’s, NTPC, Bharti Airtel and Wipro were the winners.
Sensex had surged by 016.96 points to settle at 57,426.92 on Friday. The Nifty climbed 276.25 points to end at 17,094.35.
“Markets started the week on a feeble note and lost over a per cent, tracking weak global cues,” Ajit Mishra, VP – Research, Religare Broking Ltd, said.
Among the BSE sectoral indices, power fell by 3.24%, utilities by 3.14%, auto (2.11%), FMCG (2.05%), commodities (2.01%), consumer discretionary (1.26%) and realty (1.24%).
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