Two benchmark indices declined sharply in trade in the first trading session of the month with the Sensex slipping 361 points, as investors resorted to profit booking following weak concerns over the NBFC sector. The Nifty index also slumped 114 points in trade to settle at 11,359.90.
Yes Bank was the top loser on both benchmark Nifty50 and Sensex falling over 22% to hit down the share price at Rs.32.20.
Among the other losers in Nifty was Zee Entertainment which slipped a huge 10.79% to hit the share price at Rs.236.85 per share. Other stocks that witnessed some heavy selling pressure include the names such as IndusInd Bank, State Bank of India and Grasim, which slipped by over 5%.
On the flip side, Bharat Petroleum, Mahindra and Mahindra, HDFC Bank, Indian Oil Corp, and Maruti Suzuki led the gains between 1 to 4.85%.
Selling force was also come out moderately in Auto stocks, as automakers continued to report lower than expected sales figures for August.
Apollo tyres slipped and Bosch declined 3.73% were among major losers on the Nifty Auto index which declined 0.39%. Ashok Layland stock slipped 2.77% as the Company reported its total sales were dropped 27% year-on-year in the month of September.
All Nifty sectoral indices closed in the red, with major cuts in Nifty Media (-4.32%), Realty (-4.12%), PSU Bank (3.78%). Also, Nifty Bank, FMCG and IT witnessed a selling pressure up to 1.3%.avail the latest nifty future trading tips and Free stock Tips keep visiting our website.