Indices Snap 7 Days Rally Dragged By Realty, PSBs

After record gains, towards the close of a volatile session, indices were in the negative. Nifty after clocking highs of 18600 points was down at 18411, likewise Sensex saw a drag of almost 75 points to 61,680. Bank Nifty also swiftly moved down from its almost top levels of 40011 points. Broader markets suffered a great deal with loss of over 2 percent on the Nifty Midcap 100 index.

At the close, Sensex ended down by 50 odd points to end the session at 61,716, after having hit 62,000 levels on the index in early trade today. Also, Nifty ended at 18419 levels, down 58 points.

Among the sectoral indices, PSU Bank, realty followed by FMCG saw the most correction of up to over 5 percent on the Realty pack. Nonetheless, the losses remains curtailed owing to gains in the financial services and IT pack which though dragged from the day's high level.

IRCTC which has been the best IPO stock delivering over 1600 percent returns since its listing 2 years ago was seen locked in 10% lower circuit.

HUL shares after posting its second quarter results with revenue in line and interim dividend declaration of Rs 15 per share was down in trade.

Meanwhile, European markets traded with mild gains. This is in line with global indices which are also at 1-month high owing to softening in bond yield.

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