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Indian equities ended lower for the fifth straight day, even as benchmark indices ended off the lowest point of the day, courtesy a recovery in private banks during the final minutes of the January F&O expiry.
The S&P BSE Sensex ended 1.1% lower at 46,874, shedding another 535 points to the over 2,700 points already shed over the last four sessions. However, the index ended over 350 points higher than the day's low of 46,518.
The NSE Nifty 50 too ended 104 points higher than the day's low of 13,713. The index bounced from its 50-Day Moving Average Support to end 1.07% lower at 13,817.
Among the sectoral indices, the Nifty Bank recovered over 700 points from the day's low of 29,687 to end above the mark of 30,000. The index ended 0.2% higher at 30,358. The recovery was led by Axis Bank, State Bank of India and ICICI Bank. HDFC Bank also ended off the day's low but was among the top laggards on the index.
The Nifty I.T. index was the top sectoral laggard in today's session along with the Nifty Realty index, both ending 2.2% lower while the FMCG index declined 1.9%, courtesy losses in Hindustan Unilever and United Spirits. The PSU Bank index fell 1.8% while the Auto index saw cuts of 1% in today's session.
Broader markets ended lower but the losses were modest as compared to the benchmark indices. The Nifty Midcap index fell 0.6% while the Smallcap index posted losses of 0.7%.
The India Volatility Index ended little changed at 24.3.
973 stocks on the NSE ended with gains while 894 stocks declined.
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Indian equities have opened lower for the fifth straight day on the January series F&O expiry. Benchmark indices are down to their lowest level in a month.
The S&P BSE Sensex opened 1.2% lower at 46,834 while the NSE Nifty 50 index fell 1.1% to open at 13,810. The Sensex has now fallen over 3,000 points from its all-time high while the Nifty is down close to 1,000 points.
All sectoral indices have opened lower as well. The Nifty Bank index was down over 450 points or 1.6% at the start of trade to open below the mark of 30,000. The Metal and PSU Bank index too fell 1.5% at the start of trade. The Auto index fell 1.4% while the Pharma index declined 1.3% in the early minutes of trade.
Broader markets too opened gap down. The Nifty Midcap index was down 1.4% while the Smallcap index, which outperformed on Wednesday, opened 1.1% lower.
1,238 stocks on the NSE have opened with losses while 373 are bucking the trend to trade with gains.
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