Markets fall, Nifty Settles below 10740

Share benchmarks – Sensex & Nifty – fell for third consecutive session led by falls in L&T, HDFC and ICICI Bank. The BSE Sensex fell 156 points to 35,853.56 with L&T and IndusInd Bank coming out major losers. The NSE Nifty50 Index plunged 57 points to 10,738.60, with Wipro and GAIL were top losers. Yes Bank, Infosys & Sun pharmaceutical were gainers on both the Sensex and Nifty.

Barring Nifty pharma which rose marginally by 0.53% at 16.1050, all the other sectoral spaces ended in the red.  The Nifty Bank index ended 0.75% lower at 27,248.25 with Federal Bank, IndusInd Bank and ICICI bank falling in the range of 1 to 5%.

The Nifty Metal sharply plunged 1.07% today after China, which is the world’s largest consumer of steel, copper & aluminum, reported a brake in exports in December. Sail dropped   3.26%, followed by Jindal Steel, Nalco, Welspun Corp, which slipped over 3 percent each in the index.

The Nifty Realty index showed a decline of 0.97 percent led by Prestige, Brigade and SunTech, while Energy index went down 0.52% with GAIL down near 4%, followed by NTPC, Power Grid and Tata Power.