Stocks

Sensex ends 95 points lower; banking stocks drag

BL Internet Desk | Updated on September 03, 2020 Published on September 03, 2020

stock market

Equity benchmark Sensex ended 95 points lower on Thursday as losses mainly in baking counters offset gains in shares of IT and consumer durables.

Despite opening on a positive note, the BSE Sensex ended 95.09 points or 0.24 per cent lower at 38,990.94; while the NSE Nifty closed 7.55 points or 0.07 per cent down at 11,527.45.

ICICI Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Bharti Airtel, Axis Bank, Kotak Bank and PowerGrid.

On the other hand, Titan, Tech Mahindra, Nestle, Maruti, Sun Pharma and Asian Paints were among the gainers.

Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi said, Indian market opened marginally positive owing to mixed global cues as investors in Asian markets react to a slew of economic data releases for China and European markets.

The market, however, turned negative after the latest IHS Markit Services Purchasing Managers’ Index (PMI) contracted for the sixth successive month in August.

The seasonally adjusted India Services Business Activity Index rose sharply from 34.2 in July to 41.8 in August, the highest since March, before the escalation of the pandemic.

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Published on September 03, 2020
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