Sensex ends flat in volatile session; metal stocks fall on SC verdict

Posted By:
Subscribe to GoodReturns

Sensex ends flat in volatile session; metal stocks fall on SC verdict
The Sensex and the Nifty ended the day flat with markets crashing in afternoon session following the Supreme Court verdict to cancel coal blocks. However, they recovered to end the day flat.

The Sensex ended the day 31 points lower, while the Nifty closed the day with a decline of 15 points. Leading the set of losers today were banking stocks which saw some serious selling pressure.

PSU banks saw some hectic bear hammering with select stocks like Allahabad Bank, IDBI Bank, Bank of India and Canara Bank seeing losses of around 5 per cent.

Select mid cap stocks also came tumbling down with the likes of Bharat Forge, Oracle, Unitech crashing in trade.

Coal India rallied a huge 4 per cent following the Supreme Court's verdict while FMCG stocks like ITC and Hindustan Unilever managed to hold ground and end the day in the green.

Realty stocks had a mixed day in trade with DLF gaining ground, while Sobha Developers and Unitech crashed.

Shares in IDBI Bank fell sharply after the Bank said that it has exposure worth Rs 20 billion to companies affected by coal blocks.

Select software stocks like Wipro and Infosys ended the day higher on buying interest.

Read more about: sensex, nifty
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'