Fag-end selling in financials drags Sensex 350 pts lower from day's high; Nifty below 19,350
Rise in IT stocks due to easing interest rate concerns in the US was offset by a late slide in banking and financial stocks.The BSE Sensex gained a nominal 11 points or 0.02% to settle at 65,087. The broader NSE Nifty rose 5 points or 0.02% to end at 19,347.
From the Sensex pack, Jio Financial Services closed in 5% upper circuit for the second straight day.
Tata Steel, Maruti, M&M, Infosys, and HCL Tech also closed higher.On the other hand, Power Grid Corp, SBI, ICICI Bank, IndusInd Bank, and HDFC Bank closed in the red.
Among individual stocks, Zomato shares closed 5.5% higher amid a block deal on the counter. Shares of Suzlon Energy also hit a 5% upper circuit for the third consecutive session as sentiment for the stock ran high.
Domestically focused midcaps gained 0.73%, while Smallcap100 advanced 1.03%.
Sector-wise, Nifty Bank declined 0.59% and Nifty Financial Services fell 0.50%.
The market breadth was skewed in favour of the bulls. About 2,303 stocks gained, 1,341 declined, and 146 remained unchanged on the BSE.
More to come….
