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Sensex, Nifty Fall For Second Straight Day Led By Declines In Oil & Gas Shares

Twelve of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Oil & Gas Index's 1.6 per cent decline.

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Sensex, Nifty Fall For Second Straight Day Led By Declines In Oil & Gas Shares

JSW Steel was top loser in the Nifty 50 basket of shares.


The S&P BSE Sensex and NSE Nifty 50 Indexes fell for second straight day led by declines in energy and oil & gas shares. Bluechip stocks like Reliance Industries, Kotak Mahindra Bank, Axis Bank, Infosys, ONGC and Tata Steel were among the biggest drags on the Sensex. However, the losses were for benchmarks capped as Tata Consultancy Services, HDFC, ITC and State Bank of India witnessed buying interest.

The Sensex ended 0.18 per cent or 72 points lower at 39,123 and the NSE nifty 50 Index fell 0.21 per cent or 24 points to close at 11,700.

"Nifty is likely to consolidate in range of 11,420 on the downside and 11,620 on the upside and traders should stay away from taking any position in the Nifty from a near term perspective," Pradip Hotchandani, head of research at Prudent Stock Broking told NDTV over phone.

Twelve of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Oil & Gas Index's 1.6 per cent decline.

Consumer Durables, Realty and Energy sector gauges also fell between 1 and 1.4 per cent each.

On the other hand, S&P BSE Capital Goods Index was top gainer, up 0.3 per cent.

Mid- and small-cap shares also witnessed selling pressure. The S&P BSE MidCap Index declined 0.3 per cent and the S&P BSE SmallCap Index fell 0.15 per cent.

JSW Steel was top loser in the Nifty 50 basket of shares, down 3.4 per cent to close at Rs 258. Eicher Motors, ONGC, Tata Steel, Bajaj Auto, Zee Entertainment, Vedanta, Tech Mahindra, Britannia Industries, Dr. Reddy's Labs, GAIL India and Reliance Industries were also among the losers.

On the flipside, UPL, Yes Bank, Mahindra & Mahindra, TCS, State Bank of India, Adani Ports and Indiabulls Housing Finance were among the gainers.

The overall market breadth was negative as 1,56 shares ended lower while 1,056 ended higher on the BSE.



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