Sensex, Nifty retreat for two days in row; ICICI Bank, Bajaj Finance fall trigger bearish sentiments

Domestic equity markets ended Thursday in the red, registering their second consecutive loss. S&P BSE Sensex closed at 60,353.27, down 300 points or 0.50 per cent while broader market Nifty50 settled at 17,992.15, down 50 points or 0.28 per cent. Banking gauge retreated by over 350 points or 0.81 per cent to close at 42,608.70.    

Nifty reclaimed an important support level of 17,925 after clipping to an intraday low of 17,892.60.

In the 50-stock Nifty50, the top gainers were Cipla, Bajaj Auto, ITC, Hindustan Unilever and JSW Steel while top losers were Bajaj Finance, Bajaj Finserv, ICICI Bank, Titan and Infosy.

Bank and financial sector stocks were major laggards in the day’s trade with ICICI Bank, Bajaj Finance, HDFC Bank and Axis Bank leading the fall. Among IT stocks, Infosys also acted as a top spoilsport. Meanwhile, ITC and Hindustan Unilever were among stocks that lent stability to the benchmarks.

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Out of 15 Nifty sectoral indices, six closed with declines with Nifty Financial Services (-1.24 per cent), Nifty Bank (-0.86) and Nifty IT (-0.54 per cent). The top performers were Nifty FMCG (+1.56 per cent), Nifty Auto (+1.14 per cent) and Nifty Oil & Gas (+1.69 per cent).

India VIX, a measure of volatility in Nifty was down 1.41 per cent at 14.98.

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There was stock specific action in broader markets with Nifty Mid Cap 100 and Nifty Small Cap 100 ending in the green.

In the former case, 63 stocks advanced, 36 declined while 1 remained unchanged. The top gainers were ABB India, MRF and BHEL while top losers were L&T Technology Services, Trent and Poonawalla Fincorp.

In the 100-stock Nifty Small Cap index, 45 advanced. The top gainers were Apollo Tyre, RBL Bank, Amber Enterprises India while the top losers were IRB Infrastructure, Radico Khaitan and Sobha.

Rupee jumps 31 paise to close at 82.51 (provisional) against US dollar, PTI reported.