Sensex sinks 106 pts, Nifty drops 31pc

Key benchmarks ended lower mirroring losses in global stocks led by fall in private sector lenders. The 30-scrip Sensex fell 0.29% or 106.41 points to 36,106.50 and the 50-share Nifty declined 0.31 percent or 33.55 points to 10,821.60 on Thursday.

Seven of 11 sector spaces compiled by the NSE ended lower led by the Nifty Private Bank Index’s 0.88 percent decline. On the other side, Nifty Pharma Index was top gainer, up 0.32 percent at. 8,934.80. MidCap and SmallCap shares outshined larger counterparts as the Nifty Midcap-100 and Nifty Smallcap-100 spiked 0.4% each.

Nifty Private Bank index slipped 0.88% at 15527.30.  Among stocks, South Indian Bank gained 2.27%, IDFC Bank rose 1.08% on the Nifty Private bank.  In contrast, IndusInd Bank shed 2.42% and Kotak Bank declined 1.64 percnet.

In other indices, Bank Nifty down 0.69% and Financial Services index declined 0.56% on the day.

Titan, Tata Motors and Eicher Motors were among major gainers on the Nifty, while Hindustan Petroleum Corp, IndusInd Bank and Grasim lost the most.

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