HomeMarketsIndian MarketsSensex falls 311 points, Nifty ends below 17,850

Sensex falls 311 points, Nifty ends below 17,850

The Sensex and Nifty finished in the red on Monday due to volatility, with banking and financial services companies falling in the second part of the trading session.

The S&P BSE Sensex fell 311 points to close at 60,692. The Nifty50 index, on the other hand, dropped 100 points to settle at 17,845.

HDFC, Maruti, Kotak Bank, ICICI Bank, SBI, Reliance, HDFC Bank, and Axis Bank were the top laggards on the 30-share Sensex, with losses ranging from 1% to 1.4%. Ultratech Cement, TechM, Power Grid, Infosys, and Tata Motors, on the other hand, emerged as winners.

Cipla shares fell 7% to Rs 956.20 on the BSE in intraday session on Monday after the firm said that the US Food and Drug Administration (USFDA) issued Form 483 with 8 remarks following an examination of its Pithampur production facility.

The S&P BSE MidCap and SmallCap indexes outperformed the benchmarks in the broader market, falling 0.12% and 0.16 percent, respectively.

Among sectoral indexes, the Nifty PSU Bank index declined more than 1%, while the Nifty Bank, Financial Services, Private Bank, and Realty indices each lost 0.9%. In contrast, the Nifty IT index rose 0.54 percent.

The S&P BSE Sensex finished at 61,003, down 317 points, in the previous session on Friday. The Nifty 50, on the other hand, reached a low of 17,885 before ending 92 points lower at 17,944.

Japan, South Korea, Hong Kong, and China all finished in the black in Asian markets. European stocks were falling. On Friday, the American markets closed on a mixed note.

However, the rupee rose 10 paise to settle at 82.72 (provisional) versus the US dollar on Monday, as the US currency fell from its highs. According to forex traders, a sluggish trend in local stocks and foreign money outflows impacted on investor morale and limited the appreciating bias.

The local currency began at 82.69 against the US dollar on the interbank foreign exchange market and eventually finished at 82.72 (provisional) against the greenback, up 10 paise from its previous close of 82.82. Against the dollar, the rupee reached a high of 82.62 and a low of 82.74 during the trading day.

Brent crude futures rose 1.05 percent to $83.87 a barrel, the global oil benchmark.

According to exchange statistics, foreign institutional investors (FIIs) were net sellers in the capital market on Friday, offloading shares worth Rs 624.61 crore.

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