Nifty Below 11700; Energy, Metal Stocks Witness Selling

Indian benchmark indices slipped for the fourth day in a row and closed lower by 1.3pc each in today’s trade.  At closing, the Sensex stood 491pts at 38,961 while, Nifty fell 148pts at 11,675-level. Broader markets were at the level of the benchmark indices with the Nifty SmallCap falling 1.6pc and Nifty Midcap down 1.2pc.

Nifty Metal index declined 2.87pc as selling pressure emerged in TataSteel (-5.78pc) JSPL (-5.74pc), SAIL (-5.06pc), as top index losers in the Nifty metal.

Nifty energy index declined over 2pc at 15,790.05, as crude oil prices surged. Reliance infra, HPCL ONGC, IOC, BPCL and Reliance were the top losers on the Nifty Energy index.

YES Bank, Zee, Coal India and Wipro were among the top gainers on the Nifty50, while TataSteel, JSWSteel, TataMotors and ONGC led the losses.

The Nifty Metal index was the top under-performing sector, down 2.9pc followed by Nifty Auto, (-1.7pc), Nifty PSU Bank (-1.6pc) and Nifty Pharma (-1.3pc) for the day.

Also, Nifty Bank, Nifty Financial Service, Nifty Realty and Nifty Media also fell near 1 percent for the day.

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