Sensex Ends 323 Points Lower; Realty And Banking Stocks Witness Selling

Indian share markets witnessed selling pressure throughout the day today and ended lower.

Benchmark indices slipped today following losses in global markets after the US Federal Reserve's policy-making committee indicated the overnight rate could stay close to zero for years to reach its 2% inflation target.

At the closing bell, the BSE Sensex stood lower by 323 points. Meanwhile, the NSE Nifty ended down by 88 points.

Hindalco was the top loser in NSE. Meanwhile, the top gainers in NSE today include Dr Reddy's Laboratories and Zee Entertainment.

SGX Nifty was trading at 11,526, down by 90 points, at the time of writing.

The BSE Mid Cap index ended down by 0.2%. The BSE Small Cap index ended down by 0.5%.

On the sectoral front, realty stocks and banking stocks were among the hardest hit.

Asian stock markets ended on a negative note. As of the most recent closing prices, the Hang Seng ended down by 1.7% and the Shanghai Composite stood lower by 0.4%. The Nikkei ended down by 0.7%.

US stock futures are trading lower today, indicating a negative start for Wall Street indices.

Nasdaq Futures are trading down by 131 points (down 1.2%), while S&P Futures are trading down by 36 points (down 1%).

The rupee is trading at 73.66 against the US$.

Gold prices are trading down by 0.9% at Rs 51,370 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 is planning another set of reforms for mutual funds where it might revamp the mutual fund (MF) risk-o-meter.

As per an article in a leading financial daily, the market regulator will expand the MF risk-o-meter to include a "Very High" risk category.

The five existing categories of MFs are low, moderately low, moderate, moderately high, and high.

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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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