Sensex, Nifty Fall For Second Straight Session; IT, FMCG Shares Worst Hit

Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal index's nearly 4 per cent gain

Sensex, Nifty Fall For Second Straight Session; IT, FMCG Shares Worst Hit

The S&P BSE Sensex and NSE Nifty 50 indexes ended marginally lower on Thursday as losses in IT, FMCG and pharma shares outweighed gains in metal and real estate shares. The benchmarks staged a gap up opening and traded firmly higher for most part of the day. However, weakness in heavyweights like Infosys, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tata Consultancy Services and ITC led to Sensex falling over 500 points from the day's highest level and Nifty 50 index touched an intraday low of 14,134.05 after hitting an intraday high of 14,256.25.

The Sensex ended 81 points or 0.17 per cent lower at 48,093 and Nifty 50 index declined 9 per cent or 0.06 points to settle at 14,137.

The sudden fall in benchmarks is last hour of trade was due to spike in volatility owing to weekly expiry of index futures and option contracts, analysts said.

Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal index's nearly 4 per cent gain. Nifty Realty, Private Bank, PSU Bank, Auto and Media indexes also rose between 0.5-1 per cent.

On the other hand, Nifty FMCG index was top sectoral loser, down nearly 1 per cent. IT and Pharma indexes also closed lower.

Mid- and small-cap shares outperformed their larger peers as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over 1 per cent each.

Dixon Technologies - rose as much as 5.2 per cent to hit another record high of Rs 15,214.20 on the BSE after the company, post market hours on Wednesday, said that it signed an agreement with Imagine Marketing, the maker of popular boAt wearable gadgets for manufacturing of twin wireless speakers.

Sobha rose as much as 7 per cent to hit an intra-day high of Rs 439.70 on the BSE after the company, post market hours on Thursday, said that it achieved best ever quarterly sales volume in December quarter.