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Monday, November 29, 2021

Sensex dips 112 points, Nifty ends below 18,050-mark; HDFC twins, Kotak Mahindra Bank drag

Share market: The S&P BSE Sensex slipped 112.16 points (0.19 per cent) to end at 60,433.45 while the Nifty 50 fell 24.30 points (0.13 per cent) to settle at 18,044.25.

By: Express Web Desk | New Delhi |
Updated: November 9, 2021 3:52:31 pm
stock market, sensex live, sensex share pricePeople stand outside the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021. (REUTERS/File Photo)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended marginally lower on Tuesday weighed by HDFC twins – comprising of HDFC Bank and Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and Bajaj Finance.

The S&P BSE Sensex slipped 112.16 points (0.19 per cent) to end at 60,433.45 while the Nifty 50 fell 24.30 points (0.13 per cent) to settle at 18,044.25. Both the indices had begun on a choppy note earlier in the day and later traded in the red for most of the day.

HDFC Bank, HDFC, Bajaj Finance, NTPC, Maruti Suzuki India and Kotak Mahindra Bank were the top losers of the day on the BSE benchmark. On the other hand, Mahindra & Mahindra (M&M), State Bank of India (SBI), Reliance Industries (RIL), ICICI Bank, Larsen & Toubro (L&T) and IndusInd Bank were the top gainers of the day.

On the sectoral front, the Nifty Financial Services index slipped 0.68 per cent weighed by Shriram Transport Finance Company and Muthoot Finance. On the other hand, the Nifty Auto index rose 1.03 per cent led by M&M and Bosch.

The broader market indices however outperformed their benchmark peers. The S&P BSE MidCap ended at 26,522.92, up 218.63 points (0.83 per cent) while the S&P BSE SmallCap settled at 29,333.46, up 206.50 points (0.71 per cent).

“After a positive opening, the domestic market traded lower as private banking stocks were under pressure following dull global markets. However, Auto, PSBs and consumer durables climbed against the market trend with small and mid-cap stocks outperforming. Despite the passage of the long-awaited infrastructure bill, the gains in the US market were capped as investors cautiously awaited the US inflation data,” said Vinod Nair, Head of Research at Geojit Financial Services.

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