Markets closed in the red, with Nifty losing around 1% to close below the 5450 mark. Rising concerns on crude oil price surge, in the global arena, have triggered the cuts in oil stocks here. Stocks from Capital goods & financial stocks have also seen cuts in today’s trade.
The Sensex ended below 18,000 levels at 17,924 down by 155 points or 0.9% and the NSE Nifty ended at 5,429 down by 54 points or 1%.
The BSE Capital Goods index plunged by almost 3% each followed by sectors like Realty, Banks, Oil & Gas, PSU, Power and Auto, all declining between 1-2%.
HDFC declined by nearly 3% at Rs 700 after about 14.50 million shares of India’s top mortgage lender, changed hands on the counter in block deals today.
SBI, ICICI Bank and HDFC Bank slumped between 1-2% on profit taking after recent gains on hopes of rate cut by the central bank as concerns over rising inflation eased.
From the capital goods segment, stocks like L&T and BHEL plummeted between 3-4% after gains over the past few sessions. L&T was the top Sensex loser.
Index heavyweight Reliance Industries fell by over 2%. ONGC slipped by nearly 2% after the stock gained post the government’s announcement that it will divest stake in the exploration major through auction.
From the realty pack, DLF dropped by over 3%.
On the gaining side, Sterlite was the top Sensex gainer, up 4%. The stock lost more than 13% in the last three trading sessions. Other Metal stocks like Coal India, Tata Steel, Jindal Steel and Hindalco gained between 0.4-1%.