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This article is more than 12 month old.

Closing Bell: Market snaps 4-day gaining streak; Sensex falls 148 points, Nifty ends below 11,900; Pharma, IT drag

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The Indian benchmark equity indices, Sensex and Nifty ended lower Thursday dragged by seeling in pharma, IT and banking stocks. The Sensex ended 148.82 points or 0.37 percent lower at 40,558.49 while the Nifty settled at 11,896.45, down 41.20 points or 0.35 percent.

Closing Bell: Market snaps 4-day gaining streak; Sensex falls 148 points, Nifty ends below 11,900; Pharma, IT drag
The Indian benchmark equity indices, Sensex and Nifty ended lower Thursday dragged by seeling in pharma, IT and banking stocks. The Sensex ended 148.82 points or 0.37 percent lower at 40,558.49 while the Nifty settled at 11,896.45, down 41.20 points or 0.35 percent.
Broader indices outperformed the benchmarks as the Nifty Smallcap100 gained 1.01 percent and Nifty Midcap100 ended 0.62 percent higher.
Among sectors, Nifty Pharma, Nifty IT, Nifty Private Bank and Nifty Financial Services fell the most while Nifty Metal, Nifty Media, Nifty FMCG and Nifty Realty ended in the green.
"We closed within the current range of the Nifty: 11,650-12,050. The markets, marked by low volumes, moved in a tight range of about 100 points. It is just a matter of a few days when the index will either get past 12,050 to achieve 12,300 or break 11,650 and achieve 11,450," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Hero MotoCorp, IndusInd Bank, ICICI Bank, Titan Company and Hindalco were the top Nifty50 losers while NTPC, Bharti Airtel, Tata Motors, IOCL and Bajaj Finance were the top index gainers.
Shares of pharma major Dr Reddy’s Laboratories eased 0.16 percent after the company said that it has isolated all its data center services across the world after it detected a cyber-attack.
Shares of Bajaj Auto declined 0.6 percent after the company reported an 18.8 percent on-year fall in net profit for the quarter ended September 2020 at Rs 1,138.2 crore. The company had reported a net profit of Rs 1,402 crore in the same period last fiscal. Net profit estimated by CNBC-TV18 analysts' poll was Rs 1,212 crore.
Globally, shares slid to a two-week low on Thursday, and oil steadied after another heavy fall, as a surge in global COVID-19 cases and fractious US stimulus talks kept financial markets cautious, Reuters reported.
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