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Sensex Falls For Sixth Day, Its Longest Losing Streak In Over A Year


Domestic equity benchmark indexes extended declines as the S&P BSE Sensex fell for sixth day in a row, its longest stretch of losses since February 7, 2018, and the Nifty 50 Index logged in fifth session of losses paced by declines in information technology, oil & gas and telecom stocks. Sensex fell 158 points to shut shop at 35,876 and the NSE Nifty 50 index declined 48 points to end at 10,746.

In the intraday deals, the benchmarks opened on a mixed note but later came under selling pressure and the Sensex fell as much as 235 points and Nifty dropped 75 points.

Ten of 19 sector gauges compiled by BSE ended lower dragged by the S&P BSE Oil & Gas Index’s 2.31 per cent decline. Energy and telecom indices on the BSE also dropped 1.74 per cent and 1.95 per cent each respectively.

From the Nifty basket of shares, Indian Oil was the top loser, the stock fell as much as 3.85 per cent to Rs 125. Bharat Petroleum, Hindalco, Bharti Airtel, GAIL India and Bharti Infratel were also among the losers. On the flipside, Yes Bank surged 31 per cent to Rs 222.60 after the central bank cleared the private sector lender of any divergences in bad loan reporting practices.

Indiabulls Housing Finance, Zee Entertainment, JSW Steel, Tata Motors and Sun Pharma were also among the gainers, up 3.2-7 per cent each.

Mid- and small-cap shares outperformed their larger peers as the S&P BSE Midcap Index rose 0.5 per cent and the S&P BSE Smallcap Index rose 0.2 per cent.

The overall market breadth was negative as 1,365 shares declined while 1,164 advanced on the BSE.

Source: NDTV Profit