Moneycontrol
Last Updated : Sep 28, 2018 05:45 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol |Sensex lower by almost 100 points, Nifty below 11,K; midcaps, banks drag

Shares of Axis Bank, ITC, and Wipro are the top gainers, while Yes Bank, Hero MotoCorp, and Indiabulls Housing lost the most.


Over 2,000-point fall on the Sensex, while 700-pt decline on the Nifty. This sums up how the market performed in September, reflecting the pain investors went through. On Friday, benchmarks continued with its negative streak, with the Nifty ending the first day of October series below 11,000-mark.

In fact, CNBC-TV18 reports that benchmarks saw a biggest monthly decline since October 2008, while Nifty Midcap and Bank Nifty posted their biggest ever monthly fall.

Friday’s trade was dominated by a weakness in other major sectors such as metals and automobiles, while financials traded lower too. But their performance was a tad better as compared to auto and metals. Nifty FMCG and Bank Nifty have ended in the green. Selling in midcaps have also been one of the major factors for the market to fall.

The day began on a good note, following positive global cues, but volatility later in the day and selloff in midcaps weighed big on the frontline indices.

At the close of market hours, the Sensex closed down 97 points or 0.2% at 36227.1, and the Nifty down 44.4 points or 0.4% at 10933.1. The market breadth is negative as 526 shares advanced, against a decline of 2,101 shares, while 159 shares were unchanged.

Shares of Axis Bank, ITC, and Wipro are the top gainers, while Yes Bank, Hero MotoCorp, and Indiabulls Housing lost the most.

“Market started the new F&O expiry on weak note as Nifty lost nearly half a percent amid volatility. Moreover, stocks were trashed badly across the board. It started with decline in select banking and NBFC counters which later engulfed the others too,” Jayant Manglik, President of Religare Broking said in a statement.
First Published on Sep 28, 2018 05:45 pm
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