Sensex, Nifty Fall Heavily; PSU Banks falls The Most

A strong slump in market today, by Sensex and Nifty dropping 2.04% each in the first trading session of the month.

At closing bell, the BSE the Sensex scaled down by 769-pts or 2.06pc at 36,562.91. The Nifty50 index was down 225-pts or 2.04pc at 10,797.90.

Tata Steel, UltraTech Cement, ICICI Bank, Titian Co and IOC were the top losers on the Nifty, falling over 4% while moderate gains were led by Tech Mahindra, and HCL Tech, post-merger announcement.

All sectoral indices ended in the red with maximum cuts in PSU bank index falling 4.87% led by falls in Indian Bank, Canara bank and Union Bank by 10 to 12% each. Other major losers on Nifty PSU Bank index were Union Bank, OBC and PNB.

Nifty Bank, financial, FMCG, Auto, Metal, Realty and Pharma by range 2 to 3%.

IT stocks such as Tech Mahindra and HCL Tech only the few stocks from the Nifty IT index that surged today, with Nifty IT index at the last hours slipped marginally by 0.16% or 25-pts at 15,984.85

IDBI Bank surged 5.78%on closing, following reports that the govt would infuse fresh capital of about Rs.9000-Cr into the bank.

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