Top 5 Stocks And Sectors Dragging Sensex, Nifty Today—Defence, FMCG To Axis Bank, Shriram Finance
The Nifty 50 fell as much as 0.76% at Rs 24,920.45 intraday on Friday, dragged by share prices of Bank Ltd., Shriram Finance Ltd., and SBI Life Ltd.
The Indian benchmark indices witnessed a dip in levels on Friday, with the Nifty 50 slipping below the 25,000 mark and the Sensex shedding over 500 points. The Nifty 50 fell as much as 0.76% at Rs 24,920.45 intraday on Friday, dragged by share prices of Bank Ltd., Shriram Finance Ltd., and SBI Life Ltd.
The Nifty 50 was trading down 0.68% at 24,933.65, while the Sensex was down 0.78% at 81,630.51 at the time of publishing this story.
On the sectoral front, 12 out of the 15 sectors were trading in the red, with Nifty Defence, Nifty Finance and Nifty Bank declining the most. Nifty Consumption and Nifty FMCG were the other two stocks that declined the most.
The Nifty Defence declined the most, it fell 1.85%. While Nifty Finance and Nifty Bank fell 1% and 0.95% respectively, as of 12;13 p.m.
Out of the 50 stocks comprising the Nifty 50, about 37 players were in the negative territory, with Axis Bank and SBI Life emerging as the top laggards. The financial sector, in particular, exerted significant downward pressure, dragging the Nifty 50 by nearly 100 points.
Axis Bank declined the most, as it was trading 4.05% lower as of 12:20. Shriram Finance and SBI Life was trading 1.81% and 1.80% lower respectively. Bharti Airtel declined 1.73%, while Grasim declined 1.68%.
