The benchmarks BSE Sensex & NSE Nifty50 nosedived in the first day of the month tracking weak global signals, after the US Fed-Reserve slashed interest rates by 25bps, as was largely hoped. Also, auto earning numbers have been slow which has led to a new round of selling pressure, also considers another factor behind led market fall.
The Sensex index slumped 462-pts to close at 37,018-mark and the NSE Nifty50 benchmark slipped at 10980, down by 138-pts.
Sectorally, ten out of 11 sector gauges compiled by the NSE closed in the red led by huge falls in Nifty metal and media by 3.12% each. Nifty Bank, PSU Bank, Private Bank, Pharma, IT and Financial sector gauges also dropped between 1 to 2% each.
At the end hours, only the Nifty Auto index recovered from the intraday low and closed a bit higher by 0.06pc led by gains in Maruti, Bosch and Eiher Motors, Bajaj and Hero MotoCorp. On the other hand, Tata Motors, TCS Motors, Apollo Tyres, Ashok Leyland, MRF and M&M declined, with a huge cut in Tata Motors, down by 4.35pc
Today’s top losers on the Nifty index were Vedanta, JSW Steel, SBI, Tata Motors and Hindalco, while gains were led by Maruti, Wipro, Infratel, PowerGrid and Reliance.