Sensex closes Below 50K On Profit Booking; Metals PSE scrip drag

Jan 21 2021 04:19 PM
Sensex closes Below 50K On Profit Booking; Metals PSE scrip drag

After having seen on a strong surge in Sensex climbing 50000 levels for the first time on hopes of a huge US stimulus plan, indices failed to sustain their uptrend and towards the end of the session. The fall comes even as the Reserve bank of India in its report said that the recovery is getting stronger and the economy has come out of the pandemic crisis.

On closing, the BSE Sensex ended at 49624 and the NSE Nifty stood at 14590 levels, impacted by sudden sell-off. Broader markets also underperformed headline indices with losses of over 1 pc and Nifty Bank was also down by the same force.

Among top gainers the names come up are  Tata Motors, Bajaj Finance, Reliance, HDFC Bank and Bajaj Finserv, while losers include Oil and Natural Gas Corporation  (ONGC), Tata Steel, GAIL India, Cipla and Coal India. Sectorally, All indices ended lower with the PSU Bank index ending as the top lower with losses of 3.3percent. The Nifty Bank index also fell over 1percent to end at 32,186.

Other underperformers of the day were Metals, which ended 2.2percent lower while the Media index ended 2percent lower. The Nifty Pharma index fell 1.4percent while the I.T. index declined 0.6percent.

Broader markets too witnessed a correction in the second half of trade. They ended up underperforming the benchmarks. The midcap index fell 1.2percent while the smallcap index declined 0.6percent. The India Volatility Index rose 2.9percent to end at 22.18.

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