Stock Market today : Sensex drops 169 points, Nifty settles below 11250 on last-minute sell off in banks

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Both BSE sensex and NSE’s Nifty 50 ended in red in the volatile trade today after advancing in the morning session. Huge losses in financial stocks have led to a negative trend in both the indices for three consecutive days.

Highlights of September 18 trade: 

  • At the closing hours, Sensex ended 169 points lower at 37121.22 or 0.45%. While Nifty fell 44.50 points or 0.39% at 11243.40.
  • Only 978 shares advanced, against a decline of 1,667 shares leading to negative market breadth.
  • BSE MidCap and SmallCap were down by 0.72% and 0.98% respectively.
  • HDFC AMC stock sank over 8% as SEBI announced to cut total expense ratio on mutual fund scheme.
  • IT and metals managed to close on a positive note among sectoral indices.
  • Sell off in banking, automobile and FMCG weighed on the market.

Who gained and Who did not?

Among the top gainers were Coal India (+2.60%), ONGC (+1.90%), Tata Steel (+1.31%), Hero MotorCorp (+0.99%), and Sun Pharma (+0.78%).

Indusind Bank (-3.03%), Maruti Suzuki (-2.30%), HDFC Bank (-1.58%), Yes Bank (-1.44%), and Bharti Airtel (-1.03%) ended in red

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