Sensex and Nifty Break off Six Week Rally

Bombay Stock Exchange
Image Source: PTI

Weekly Performance-

  • The increasing six-week string of India’s benchmark indices ended this week.
  • In the six weeks starting June 15, the Nifty had gained 1,222 points.
  • In the six weeks starting June 15, the Sensex had gained 4,348 points.
  • Sensex & Nifty lose 1% each, Nifty Bank down 4% this week.
  • Nifty Pharma gains most among sectoral indices after a surge in pharma stocks for last 2 sessions.
  • 3 out of 5 top Nifty gainers this week are pharma stocks.
  • ICICI Bank, Zee Entertainment, BPCL, HDFC Bank top Nifty losers for the week.

Today’s Trading Session-

At close, the BSE Sensex was down 129.18 points or 0.34% at 37,606.89, and the NSE Nifty50 was down 28.70 points or 0.26% at 11,073.50 diving below 11,100 mark. Both Sensex and the Nifty declined for the third straight day. Bank Nifty ticked 6 points lower and closed at 21,640 levels.

Broader markets outperformed the benchmarks, Nifty Midcap100 and Nifty Smallcap100 indexes ended the day in green, up 0.43 per cent and 0.83 per cent higher respectively.

On the sectoral front, pharma index remained the best-performing index for the third-straight day, up 3.56 per cent with FMCG, IT and Metal also ending in the green, while selling witnessed in the energy, auto and infra sectors. Gains on the pharma index were led by Sun Pharma and Cipla, both ending with gains of over 5%. Both were also the top performers on the Nifty 50 index.

Energy stocks received maximum beating as the BSE Energy index shed to the tune of 1.64 per cent. Energy major and Sensex heavyweight Reliance Industries Limited or RIL share price crashed 1.98 per cent, Hindustan Petroleum Corporation Ltd or HPCL shares nosedived 3.59 per cent, shares of Castrol India dipped 1.64 per cent, Bharat Petroleum Corporation Ltd or BPCL stock price went down 1.22 per cent while Oil and Natural Gas Corporation or ONGC counter went up 0.97 per cent.

In the banking sector, HDFC Bank share price dipped 1.28 per cent, Kotak Mahindra Bank shares went down 1.43 per cent, City Union Bank stocks went southward 1.30 per cent while State Bank of India or SBI shares scaled up 2.41 per cent.

Eicher Motors, Reliance Industries, HDFC Bank, Asian Paints and Bajaj Auto were among major losers on the Nifty, while gainers were Cipla, Grasim Industries, Sun Pharma, SBI and UPL.


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