0

0

0

0

0

0

0

0

0

Closing Bell: Sensex slumps 360 points, Nifty at 17,532; Mahindra & Mahindra rise

Mini

The 30-scrip Sensex slumped 360 points to close at 58,765 and the Nifty50 index slumped 86 points to end at 17,532. The broader markets closed mixed with midcaps closing slightly below the flatline and smallcaps closing slightly above the flatline.

Closing Bell: Sensex slumps 360 points, Nifty at 17,532; Mahindra & Mahindra rise
The Indian equity benchmark indices slumped half a percent Friday pulled lower by financial, automobile, and metal shares and tracking weakness in the global markets. The benchmarks snapped a five-week gaining streak to post weekly fall in over five months.
The 30-scrip Sensex slumped 360 points to close at 58,765 and the Nifty50 index slumped 86 points to end at 17,532. The broader markets closed mixed with midcaps closing slightly below the flatline and smallcaps closing slightly above the flatline. Despite the sell-off market breadth favours advances. For every 5 stocks that advanced, 4 declined.
Among the 50 stocks on Nifty, Mahindra & Mahindra, Coal India, IOC, Dr Reddy, and ONGC lead the gains, as each scrip rose over 1 to 3 percent higher. Leading the losses were Bajaj Finserv, Maruti, Asian Paints, Bajaj Finance, and Bharti Airtel.
Among sectors on NSE, media, metal, pharma, PSU Bank, and healthcare indices rose over half a percent higher. On the other hand, indices like IT, Financial Services, and Bank slumped half a percent. Nifty Bank recovered from an intraday low of 36,876 to close 199 points lower at 37,226.
Bajaj twins reversed their Thursday gains to slip over 2 percent.
Maruti fell over 2 percent as it reported below-estimate sales and lower production in September. Bharti Airtel fell for the fifth straight day Thursday, the stock has lost over 9 percent this week.
Mahindra & Mahindra was the top Nifty gainer after reporting better than expected tractor sales. TVS Motors also closed sharply higher for the day after reporting above-estimate sales.
Elsewhere in Asia, bourses in Tokyo and Seoul ended in the red. Shanghai and Hong Kong markets were closed for a holiday.
Equities in Europe were also trading with significant losses in mid-session deals. Meanwhile, international oil benchmark Brent crude fell half a percent to $77.94 per barrel.
(With inputs from PTI)
next story