Nifty fails to keep 9000; Bank Stocks witness selling

Market-closing-update

Markets closed with a negative bias all through the day, on account of increased selling pressure after the indices registered its best weekly gains since 2009 last week.

The Sensex settled 449-pts points lower at 30,690, while the Nifty dropped 118-pts to end at 8,994. Meanwhile, the broader indices were also slipped with Nifty Mid-Cap down by 1.4-pct and the Small-Cap lost 0.5-pc for the day.

Bank Nifty slipped 2.14 percent lower led by ICICI Bank (down 3.38-pc) followed by, HDFC Bank and Bank of Baroda among others. Banks stocks like SBI, ICICI Bank, Kotak Mahidnra Bank and HDFC Bank remained under selling force, closing in the red. Track the best Bank Nifty tips, Best shares to invest tips from the expert.

Nifty realty index slipped the most by 4.87 percent, led by a sharp falls in major heavyweights such as Phonex Mills, SunTech and DLF.

Larsen and Toubro, Hindalco, Airtel, AdaniPorts, and Dr Reddy-Lab were the top gainers in the Nifty while Bajaj Finance, Zee-Entertainment, Bajaj Finserv, Mahindra& Mahindra, and Titan-Compnay led the losses.

Among sectors, financial, realty, and auto fell the most, whereas Nifty Pharma and Metal were in the green for the day.

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