Indian Stock markets halted their two-day winning streak on Thursday, the day of the weekly Future & Option expiry.
The broad-based selloff was seen across indices with consumer durables, FMCG, and media stocks taking the most beating. The BSE Sensex erased its crucial mark of 61,000, while the NSE Nifty50 managed to float over 18,100 levels.
Sensex slipped by 187.31 points or 0.31 percent to end at 60,858.43. NSE Nifty50 lagged behind by 57.50 points or 0.32 percent to settle at 18,107.85. During the trading session, the benchmark Sensex had touched an intraday low of 60,716.55 and the NSE Nifty50 touched 18,063.75 levels.
Stocks like Tata Steel, Power Grid, Axis Bank, and Tech Mahindra were top gainers. While Asian Paint, IndusInd Bank, Tata Motors, Kotak Bank, Titan, HUL, and Ultratech Cement were top bears with downside ranging from 1-3 percent.
Analysts said, weak global cues dampened sentiments in domestic equities. Meanwhile, the Indian rupee was also under pressure against the US dollar alongside its Asian counterparts.
Secyorally, on BSE, Consumer Durables and FMCG indexes fell by over 0.8 percent each. The Nifty Media index shed over 1 percent. Auto and banking stocks also witnessed substantial downside. Metal and oil & gas stocks extended their gaining spree.
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