Sensex Ends 134 Points Lower; Finance And Banking Stocks Witness Selling

Indian share markets witnessed selling pressure during closing hours today and ended marginally lower.

Benchmark indices witnessed a sudden decline in the last hour of trading, amid selling seen in banking and finance stocks.

At the closing bell, the BSE Sensex stood lower by 134 points. Meanwhile, the NSE Nifty ended down by 11 points.

HDFC Bank was the top loser in NSE. Meanwhile, the top gainers in NSE today include Dr Reddy's Laboratories and Cipla.

SGX Nifty was trading at 11,516, down by 7 points, at the time of writing.

The BSE Mid Cap index ended up by 0.3%. The BSE Small Cap index ended down by 0.3%.

On the sectoral front, finance stocks and banking stocks witnessed selling pressure. Pharma stocks, on the other hand witnessed buying interest.

Asian stock markets ended on a positive note. As of the most recent closing prices, the Hang Seng ended up by 0.4% and the Shanghai Composite stood higher by 2.1%. The Nikkei ended up by 0.2%.

US stock futures are trading mixed today. Nasdaq Futures are trading up by 61 points (up 0.6%), while Dow Futures are trading down by 151 points (down 0.5%).

The rupee is trading at 73.45 against the US$.

Gold prices are trading up by 0.3% at Rs 51,605 per 10 grams. Over the last three weeks, gold is trading in a narrow range since hitting record highs of Rs 56,200 last month.

In news from the mutual fund's space, the market regulator has tweaked norms for assigning net asset value (NAV) while purchasing units of mutual fund (MF) schemes.

"It has been decided that with respect to the purchase of units of MF schemes (except liquid and overnight schemes), closing NAV of the day shall be applicable, on which the funds are available for utilization irrespective of the size and time of receipt of such application," the regulator said.

Until now, investors who gave a cheque for below Rs 2,00,000 got the same day's NAV, while those putting more got the NAV of the day when the cheque was realized.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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