​FINAL TRADE: Sensex slips 242 pts, Nifty settles at 20,133; PSBs shine, realty stocks fall

Stock market today: The domestic equity indices settled lower on Monday, September 18, snapping an 11-day winning streak amid weak global cues. The economic developments in China and policy decisions from top central banks, including the US Federal Reserve, dented investor sentiment. Selling pressure was seen in banks, financial services, IT, pharma, and real estate stocks. 

The Indian share market will be closed on Tuesday, September 19, on account of Ganesh Chaturthi.

At close, the S&P BSE Sensex stood at 67,596.84, down 241.79 points, or 0.36 per cent, and the NSE Nifty was down 59.05 points, or 0.29 per cent, at 20.133.3 points.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 closed lower.

Nifty Bank settled 0.54 per cent lower at 45,979.85 amid profit booking in HDFC Bank shares. 

"Nifty ended the day flat but with a downward tilt; most of the sectoral indices were in green at the closing, with Nifty PSU banks leading the way with gains of 3.39 per cent, lower deposit-to-credit ratio, focusing more on high-yield products, and introducing technology into PSU banks would all help the sector's banks attracting more investors by boosting profitability and fostering development," said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio Ltd.

NIFTY50 STOCKS 

Hindalco, HDFC Bank, Adani Ports, Dr Reddy's Laboratories, and Bharti Airtel were the major laggards on the NSE. Conversely, Power Grid, Titan, HDFC Life, M&M, and BPCL were the top gainers. 

BUZZING STOCKS

Bharat Electronics Ltd shares were up over 3 per cent at close after the company received orders worth Rs 3,000 crore.

Vodafone Idea stock was down over 6 per cent after the company denied being in discussions to be acquired by Verizon, Amazon or Starlink.

Shares of public sector undertaking (PSU) banks were on a roll with Indian Overseas Bank (IOB), Central Bank of India, Punjab & Sind Bank (PSB) and UCO Bank soaring up to 19 per cent on the back of heavy volumes, in an otherwise subdued market.

GLOBAL MARKETS

World shares fell while the dollar firmed on Monday as growth concerns tested investors' mettle ahead of a week brimming with central bank meetings in countries including Norway, Sweden, Switzerland, Britain, the United States and Japan.

The pan-European index slipped 0.5 per cent, dragged down by health care, bank, and chip stocks.

Societe Generale, France's third-biggest listed bank, saw its shares drop more than 6 per cent and was set for its biggest one-day fall since March. The bank said it expected little if any growth in annual sales over the coming years in a keenly-awaited strategic plan from its new CEO.

(With agency inputs)