Closing Bell: Sensex falls 617 pts, Nifty below 22,350; smallcap index down 2%
Except pharma, all other sectoral indices ended in the red with auto, capital goods, oil & gas, bank, IT, realty, metal and power down 0.5-1 percent each.
Benchmark indices ended lower on March 11 with Nifty below 22,350. At close, the Sensex was down 616.75 points or 0.83 percent at 73,502.64, and the Nifty was down 160.80 points or 0.71 percent at 22,332.70.
Markets started the week with a cut and lost over half a percent amid mixed cues. After the flat start, Nifty inched gradually lower as the session progressed and finally settled around the day’s low at 22,332.65 level. Mostly sectors traded in sync with the move and closed in the red wherein metal, banking and energy were among the top losers. The broader indices traded mixed wherein smallcap shed ~2%.
The intermediate dip in the index after every uptick and underperformance of the broader indices are making traders’ life difficult and we feel it might continue due to mixed trends across the index majors. In the present scenario, traders should avoid aggressive longs and prefer a hedged approach.
Source: Money Control
| Best Sector | Prices | Change | Change% |
|---|
| Nifty Pharma | 19202.00 | 7.90 | +0.04% |
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