Sensex, Nifty Witness Huge Selling Pressure, Auto Stock Lag

Markets have fallen sharply throughout the mid-session amid aggressive selling pressure seen in stocks across the sectors.

The Sensex closed with losses of 560 points to 38333-mark, while the Nifty was down 177 points to clost at 11419.65 on the weekend.

The losses on the Nifty50 index were led by M&M, Bajaj Finance, Bajaj Finserve, Eicher Motors and Indusind bank. On the other hand major gains were led by NTPC, Titan, Coal India, TCS and PowerGrid.

Auto stocks were the hardest hit in trade with Nifty Auto index falling 3.31% led by losses in Exide, Eicher Motors, TVS Motors, Eicher Motors down by 3 to 6% in range.

Shares in RBL Bank slipped a huge 13.76%, despite the bank saw its net Interest Income advanced 47.9pc to Rs 817.32-Cr and PAT rose 40.5pc to Rs 267-Cr.

Shares in Reliance Industries closed a tad lower, down by 0,70% to Rs1253-per share ahead of its Q1 results to be reported later today.

Shares of ACC cement closed 1.09% on profit booking after the company posted a 38.6% rise in Q1 net profit at Rs 455.68 crore.

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