A huge reversal in trend played on the market today as weakness in financials weighed big on Sensex and the Nifty. The 50-share index, which rose above 10,700 in the opening tick, ended the day just above 10,450.
Non-banking financial companies (NBFCs), particularly housing finance companies, saw a big fall, which spilled over to other financial names as well. As a result, sectoral indices such as PSU banks as well as Bank Nifty ended 1.5-3 percent lower. A sell-off in the midcaps segment also added to the weak sentiment.
Automobiles, metals, pharmaceuticals and energy sectors were the other big losers.
At the close of market hours, the Sensex is down 382.90 points or 1.09% at 34779.58, while the Nifty ended lower by 131.80 points or 1.25% at 10453.00. The market breadth was negative as 705 shares advanced, against a decline of 1,884 shares, while 942 shares were unchanged.
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Source:https://www.moneycontrol.com/news/business/markets/closing-bell-stock-market-live-updates-bse-nse-sharp-sell-off-in-last-hour-drags-sensex-by-382-pts-nifty-around-10450-midcaps-crack-3053671.html
