The Sensex & Nifty, which started the session on a weak note, continued trading in the red till closing session on Friday. The BSE Sensex slipped 894 points at 37,576, while the NSE Nifty was at 10,989, down by 279 points at the weekend.
The whole sectoral indices in the NSE-Nifty ended in the red wherein Nifty PSU Banks lost 5.25-pc, Nifty Media shed 4.84-pc, Metals slipped 4.35-pc, Nifty Bank down by 3.59-pc, Nifty Private bank dropped 3.81-pc and Nifty Realty fell 3-percent. Also, the Nifty IT, FMCG, and Pharma were down from range 1 and 2 percent.
Yes Bank finally quoted 54.89 points lower, while Tata Motors was down 9.50 percent, Zee Entertainment-down by 7.29-pc, SBI and Tata Steel-down by 6.48 percent each for the day.
Out of fifty stocks in the Nifty, 45 nos ended in the red, while 5 nos namely Bajaj Auto, Gail India, Maruti Suzuki, Asian paints and Eicher Motors gained.
Among stock buzz, PNB slipped 5.78 percent to Rs.42.40-per share after Bank’s board approved share exchange ratio for the merger/amalgamation with Oriental Bank of Commerce (OBC) and United Bank.
Similarly, shares of Union Bank of India slipped near 7 percent to Rs.36.75-per share after its Board-approved share exchange ratio for the merger with Andhra Bank and Corporation Bank.