Markets Drops At Final Hours Of Trade; Media Stocks fall

The key benchmark indices ended in negative territory hit by high volatility at the end hours, gripped by sudden selling pressure, resulting into Nifty below 11,200 marks.

Shares opened higher in the morning session and hit fresh intraday high in mid-morning trade and held firm near day’s peak in first-afternoon session and closed into the red in final hours trade on selling pressure across sectors.

The BSE Sensex ended 203pts lower at 37,114.88 and the NSE Nifty50 ended at 11,157-level, down 65pts. Yes Bank, Tata Motors, Zeel, JSW Steel and IndusInd Bank were the top losers on the Nifty, while top gainers were Bajaj Finance, Eicher, UPL, Bajaj Finserve and IOC.

Among Sectors, except Nifty IT and Realty, all the sectoral indices have ended in the red.  Nifty media fell the most down by 3.74% followed by Metal (-2.10%), PSU Bank (-1.79%), Auto (-1.24%) and Pharma (1.02%).

Among specific stocks, Nestle India rose 1.10% to Rs.10310.50-per share after the company reported its net profit rose 9.26% to Rs463.28crore.

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