Sensex, Nifty Decline For Third Day In A Row Dragged By Reliance Industries, HDFC Bank

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The S&P BSE Sensex and NSE Nifty 50 indexes fell for third day in a row dragged by heavyweights like Reliance Industries, HDFC Bank, HDFC, Kotak Mahindra Bank, Asian Paints and Bajaj Auto. For most past of the day, benchmarks traded in a volatile manner with a negative bias. The Sensex moved in a band of 450 points and Nifty touched an intraday high of 11,150.40 and low of 11,026.65. The downside was capped in markets as losses were capped due to buying interest in Sun Pharma, TCS, Infosys SBI and Axis Bank.

The Sensex ended 129 points or 0.34 per cent to close at 37,607 and Nifty 50 index declined 29 points or 0.26 per cent to settle at 11,073.

Banking, auto, financial services, media, realty and private banking indexes ended lower. While, FMCG, IT, PSU banking and pharma indexes closed lower.

Mid- and small-cap shares outperformed their larger peers as Nifty Midcap 100 index rose 0.4 per cent and Nifty Smallcap 100 index advanced 0.75 per cent.

Reliance Industries was among the top Nifty loser, the stock fell 2 per cent to close at Rs 2,070 after its revenue fell 44 per cent in June quarter.

Eicher Motors, HDFC Bank, Bajaj Auto, Wipro, Asian Paints, HDFC, HDFC Life, Hero MotoCorp, BPCL and Zee Entertainment and UltraTech Cement were also among the losers.

On the flipside, Sun Pharma was top Nifty gainer, the stock rose 5.5 per cent after the company said that its profit came in at Rs 532 crore in June quarter.

State Bank of India climbed 2.4 per cent after its profit surged 81 per cent to Rs 4,189 crore in June quarter.

UPL, Mahindra & Mahindra, Axis Bank, HCL Technologies and Tata Motors were also among the gainers.

The overall market breadth was negative as 1,432 shares closed lower while 1,225 closed higher on the BSE.

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