“Bank Nifty declined by 772 points or 2.68 pc, due to the loss of high weighting banking shares in key indices, such as RBL Bank, IndusInd Bank and Yes Bank. The Nifty Financial Services index also slipped 1.92 pc for the day.”
Market Closing: Major benchmark indices closed lower in Thursday’s session after an emphatic rally in the previous day. Todays’ market actions were led by the falls in bank names such as HDFC Bank ICICI Bank and IndusInd Bank. The Sensex declined 297 points at 37,880 points while the NSE Nifty slipped 78 points to close at 11,234.
From the Nifty chart, IndusInd Bank declined 6.94%, Yes Bank slipped 5.43%, GAIL lost 3.64%, Tata Motors slipped 3.39% and Vedanta down 3.23% as major losers. On the other hand, gains were led by Bharti Airtel, which was up 4.35%, Grasim up 3.67% and Reliance industries up 2.67%.
All sectoral Nifty indices closed in the red. Banking and financial spaces declined the most with the Nifty PSU Bank, Common Bank Nifty and the Nifty Pvt Bank indices slipped more or less 3 pc. The Nifty FinancialServices index also lost 1.92 percent for the day. Meanwhile, the Nifty Realty was down 2.12 pc and the Nifty Metal slipped 1.48 pc. Avail stock Tips and Free stock Tips our website.
Telecommunication shares were surging after Reliance Jio announced that it would also charge for voice calls. Bharti Airtel and Vodafone Idea jumped 4 to 5%, while Reliance Industries spiked 2.67%.
Among key stocks, TCS down 0.86%, Infosys down 0.15%, Grasim was up 3.67%, Hindustan Unilever was up 1.64% and HCL Technologies was up 1.23%.