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    Closing Bell: Sensex, Nifty slip over 1 percent; metals, banks drag

    Closing Bell: Sensex, Nifty slip over 1 percent; metals, banks drag

    Closing Bell: Sensex, Nifty slip over 1 percent; metals, banks drag
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    By CNBCTV18.com  IST (Updated)

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    The Sensex ended 598 points or 1.16 percent lower at 50,846.08 while Nifty fell 164.85 points or 1.08 percent to settle at 15,080.25. Broader market indices outperformed the benchmarks as both midcaps and smallcaps traded at 0.49 and 1.17 percent, respectively.

    Indian indices snapped three sessions of gains as Nifty ended below 15,100, dragged by losses in metal, financial stocks amid weak global cues as bond yields rose again. However, the midcap index outperformed benchmarks once again as they gained 2 percent from the initial lows to end 0.5 percent higher.
    The Sensex closed  1.16 percent lower at 50,846.08 while Nifty fell 1.08 percent to settle at 15,080.25. Broader market indices outperformed the benchmarks as both midcaps and smallcaps traded at 0.49 and 1.17 percent, respectively.
    UltraCement, Adani Ports, Shree Cement, Grasim, Dr Reddy were the top gainers, while JSW Steel, HDFC, Hindalco, Tata Steel, Tata Motors were the top losers on Nifty50.
    All the sectors except Nifty Realty and Media were trading in red, with metals leading the losses. Nifty Realty and Media gained 0.11 percent and 1.60 percent, respectively. Nifty Bank and Financial Services were down by more than 1.5 percent each, while Nifty Metal lost over 2 percent on reports of the price cut.
    Mahindra Logistics (MLL) shares rallied 13 percent to a 52-week high of Rs 543 on Thursday, in a weak market. MLL said it has won a contract from Bajaj Electrical for Rs 1000 crore over five years.
    Cement stocks edged higher during the session, with Orient Cement surging nearly 13 percent.
    The share price of Adani Ports and Special Economic Zones rallied more than 2 percent on Thursday after the company announced the acquisition of a 31.5 percent stake in Gangavaram Port.
    Market breadth still favours advances; the current advance-decline ratio is at 5:4.
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