0

0

0

0

0

0

0

0

0

This article is more than 1 year old.

Closing Bell: Sensex falls 171 points, Nifty ends below 11,300; financials, IT stocks drag

Mini

The Indian benchmark equity indices, Sensex and Nifty ended lower Wednesday dragged by selling in banking and IT stocks amid negative global cues.The Sensex ended 171.43 points or 0.45 percent lower at 38,193.92 while the Nifty lost 39.35 points or 0.35 percent to close at 11,278.00.

Closing Bell: Sensex falls 171 points, Nifty ends below 11,300; financials, IT stocks drag
The Indian benchmark equity indices, Sensex and Nifty ended lower Wednesday dragged by selling in banking and IT stocks amid negative global cues.
The Sensex ended 171.43 points or 0.45 percent lower at 38,193.92 while the Nifty lost 39.35 points or 0.35 percent to close at 11,278.00. Broader indices also declined with Nifty Smallcap100 and Nifty Midcap100 indices falling 1.51 percent and 0.54 percent, respectively.
Among sectors, Nifty PSU Banks fell the most followed by Nifty Financial Services, Nifty Realty and Nifty IT while Nifty Pharma, Nifty Metal, Nifty Media and Nifty Auto ended in the green.
SBI, GAIL India, Bajaj Finance, Axis Bank and IOC led the decline among Nifty50 constituents while Tata Steel, ZEEL, Cipla, Reliance Industries and Grasim Industries were the top index gainers.
"During trade today, we broke the levels of 11,200 which can be considered a bearish signal. We could drift further downwards now towards 11,000 and then 10,900. The resistance is at 11,450. Traders can attempt a short at higher levels for a target of 11,000 and a stop can be placed above 11,450," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Shares of Reliance Industries ended over 2 percent higher after the company announced that US-based private equity fund Silver Lake Partners will invest Rs 7,500 crore for a 1.75 equity stake in Reliance Retail Ventures, the retail holding arm of Reliance Industries
AstraZeneca Pharma India stock ended 3 percent lower after the late-stage studies of the company’s COVID-19 vaccine candidate were put on temporary hold due to a suspected serious adverse reaction in a participant in the United Kingdom. In a statement issued Tuesday evening, the company said its standard review process triggered a pause to vaccination to allow review of safety data.
next story