Home Business Stock Market: Sensex Sheds 176 Points, Nifty Settles Below 17,400. IT, Metal Stocks Drag

Stock Market: Sensex Sheds 176 Points, Nifty Settles Below 17,400. IT, Metal Stocks Drag

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The 2 key fairness benchmarks, Sensex and Nifty, on Monday prolonged their losses for the seventh straight buying and selling session amid tepid world cues. The home indices tracked weak spot in auto, IT, and steel shares and finally ended off the day’s low as banking shares bucked the development and completed with some positive aspects.

The S&P BSE Sensex closed at 59,228, down 176 factors. However, the NSE Nifty settled at 17,392, down 73 factors. The Nifty dipped beneath the 200-DMA to hit a low of 17,299 in intra-day offers, thus breaking the 200-DMA (Day by day Transferring Common), an essential technical degree. Technically, the index did handle to shut above the 200-DMA on the later a part of the day.

Among the many Sensex 30 shares, Tata Metal, Infosys, TCS, Tata Motors, M&M, L&T closed within the purple. On the flip aspect, PowerGrid, ICICI Financial institution, Kotak Financial institution, SBI, HDFC, NTPC emerged winners.

Within the broader markets, the BSE Midcap index down 0.6 per cent and Smallcap index fell 1 per cent.

Sectorwise, besides financial institution and realty, all different sectoral indices ended decrease.

Within the earlier session on Friday, the S&P BSE Sensex fell 142 factors (0.24 per cent), to shut at 59,464, whereas the Nifty50 declined 45 factors (0.26 per cent) to finish at 17,466.

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