The selling pressure continues for the third straight session on Thursday, as the Indian market closed in the red with Sensex down over 300 points, while Nifty below 18200-level. The major weakness came from the information and technology sector, followed by metal and FMCG stocks today at close. 

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The BSE Sensex declined 336.46 points or 0.55 per cent at 60,923.5; while Nifty50 tumbled 88.5 points or 0.48 per cent to 18,178. Even the mid-cap index followed the benchmark’s suite down 122.15 points or 0.39 per cent to 31,356.15 level at the market close today.              

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In otherwise negative sentiment, the banking index — Nifty Bank hit a new record high to breach 40150-level for the first time, the surge mainly came from Kotak Mahindra Bank, which closed as top gainer up around 7 per cent at the market close. 

As many as 21 stocks advanced and 29 declined on the Nifty50 index at the market close today. On the back of weak margins, Asian Paints declined most by around 5 per cent, followed by Hindalco down almost 4 per cent and Reliance Industries slipped by over 2.5 per cent at the market close.

Besides Kotak Bank, Tata Motors gained second-most at the market close up over 4.5 per cent, followed by Grasim gained 3.5 per cent. While stocks such as HDFC, BPCL, Divis Lab, ICICI Bank, Coal India, Eicher Motor surged between 1-2 per cent in an otherwise negative market at the close today.

Sectorally, the indices were equally divided into green and red. Nifty IT, Metal, FMCG, and Pharma slipped during today’s trade, the first two sectors slumped most by over 2.5 and 1.5 per cent at the close. On the other hand, Nifty Bank closed positive along with Auto and Financial Services.