Stocks

Sensex down 241 pts, Nifty below 17,300

Our Bureau Mumbai | Updated on September 08, 2021

IT, auto, pharma and FMCG under pressure

Benchmark indices were trading in the red during the afternoon on Wednesday amid profit-booking.

Market witnessed further correction on Wednesday after opening on a weak note amid weak global cues. Indices were dragged primarily by IT stocks. Auto, FMCG and Pharma also witnessed profit-booking.

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At 1 pm, the BSE Sensex was trading at 58,038.26, down 241.22 points or 0.41 per cent. It hit an intraday high of 58,372.94 and a low of 57,988.47. The Nifty 50 was trading at 17,291.90, down 70.20 points or 0.4 per cent. It hit an intraday high of 17,383.40 and a low of 17,283.20.

Grasim, Kotak Bank, BPCL, UPL and PowerGrid were the top gainers on the Nifty 50 while Divi’s Lab, Nestle India, Eicher Motors, Wipro and Britannia were the top laggards.

Bank stocks rebound

On the sectoral front, a majority of indices were in the red. While bank stocks rebounded sharply, IT, auto, FMCG, pharma and realty faced increased pressure.

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Nifty Bank was up 0.56 per cent. Nifty Private Bank and Nifty PSU Bank were up 0.58 per cent and 0.93 per cent, respectively.

Meanwhile, Nifty IT was down 1.02 per cent. Nifty Auto was down 0.84 per cent. Nifty FMCG was down 0.68 per cent and Nifty Pharma was down 0.64 per cent while Nifty Realty was trading 0.56 per cent lower.

Broader indices

Broader indices were in the green.

Nifty Midcap 50 was up 0.01 per cent while Nifty Smallcap 50 was up 0.43 per cent. The S&P BSE Midcap was up 0.34 per cent while the S&P BSE Smallcap was up 0.33 per cent.

The volatility index rose 0.20 per cent to 14.93.

Published on September 08, 2021

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