Published: Wed, February 21, 2018
Money | By Armando Alvarado

Sensex, Nifty Fall For Third Day

Sensex, Nifty Fall For Third Day

At 3:04 PM, the BSE Sensex was trading at 33,722, down 289 points, while the Nifty50 index was trading at 10,356, down 96 points.

Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs.

New Delhi, Feb 20 Shares of Punjab National Bank fell by almost 5 per cent today, continuing the downtrend for the fifth straight session following the Rs 11,300-crore fraud.

Tata Steel emerged as the worst hit among Sensex companies with a 5.82 per cent fall following reports that the company is among those that have expressed interest to take over debt-laden Bhushan Steel.

The gauge had lost 286.71 points in the previous on Friday.

The broader NSE Nifty ended 0.71 percent lower at 10,378.40.

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Private Bank, Nifty Banks, Finance, Realty and Energy segments saw selling.

The broader midcap and smallcap company shares also corrected substantially. On net basis, they sold shares worth Rs 1,065.99 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 1,127.78 crore on Friday, provisional data showed. "Nearly all the sectoral indices ended lower and similar trend was witnessed on broader front".

The BSE bankex resumed its decline and fell 126 points (0.44%) to 28,270 level.

Among sectoral and industry indices, bankex dipped by 1.68 percent followed by consumer durables 1.21 per cent, auto 1.08 per cent, teck 0.56 per cent, healthcare 0.56 per cent, IPO 0.50 per cent, realty 0.39 per cent, capital goods 0.21 per cent, IT 0.15 per cent, and power 0.13 per cent, while metal rose by 0.16 per cent, FMCG 0.10 per cent and oil and gas 0.03 per cent.

Shares of Gitanjali Gems have completely lost shine, as the stock has nosedived by ~50% in the past four trading sessions. The bank reported net loss of Rs 2416.37 crore in Q3 December 2017 as against net profit of Rs 2610 crore in Q3 December 2016. Mahindra and Mahindra tanked 2.48%, followed by Axis Bank, Kotak Bank, YES Bank and RIL, which dropped as much as 1.44%.

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