Sensex, Nifty Fall For Fourth Day On Unabated Selloff After Fed Hike: Market Wrap
The Sensex fell 1.64% , while the Nifty 50 declined 1.8% on Monday.
India' stock benchmarks ended down for the fourth day in a row, dragged by metals, auto, realty, power, and utilities stocks as the post-Fed rate hike sell-off continued.
The Sensex lost over 950 points or 1.64% to end at 57,145.22 after having fallen over 1,060 points to an intraday low of 57,708.38 on the BSE. The Nifty 50 declined 1.8% or 311.05 points to close at 17,016.30 on the NSE. The 50-stock gauge had fallen below 17,000 during intraday trade for the first time in two months. Among Nifty 50 constituents, 43 stocks fell, seven rose.
Tata Motors Ltd., Hindalco Industries Ltd., Adani Ports and Special Economic Zone Ltd, Maruti Suzuki India Ltd. and Eicher Motors Ltd. were the top laggards.
Asian Paints Ltd., HCL Technologies Ltd., Infosys Ltd, Tata Consultancy Services Ltd. and Wipro Ltd. ended with gains.
The broader indices underperformed their larger peers with mid cap gauge losing 2.8% and small cap measure shedding over 3.3%.
Barring information technology and teck indices, all the other 17 sectoral gauges declined. Metal, Power, Realty, and Utilities lost around 4%.
The market breadth is skewed in favour of bears. About 657 stocks fell, 2,927 rose and 123 remained unchanged.
