After two consecutive days of gains, the stock market fell again on September 17. The Sensex was down 323 points and the Nifty was down 88 points.
The Nifty closed above 11,600 points again on September 16 but did not rise above this level at any stage of trading on September 17. 11,587 is the highest level in the day’s trade. The Nifty opened below 60 points following the fall in the US market. Fluctuations in the market have intensified. Similarly, the Nifty fell by 11,489.50 points to close above 11,500. The stock closed at 11,516.
The Sensex, which had closed at 38,979 points, dropped to a psychological level of 39,000 points. The day’s high was 39,234.81. It had fallen to 38,926 points at one point during trading.
Most of the 50 stocks in the Nifty were down . Thirty-eight stocks in the Nifty gained while 12 stocks lost ground. Hindalco, Tata Motors, Shree Cements, Bajaj Finserv and Adani Ports were the biggest losers in the Nifty. Hindalco fell 4.33%. Shares of Tata Motors, Shree Cements, Bajaj Finserv, Adani Ports and Powergrid lost more than 2%.
Dr. Reddy’s Laboratories, HCL Tech, Zee Limited, Maruti Suzuki and Infosys were the top five gainers in the Nifty. For the second day in a row, Dr. Reddy’s Laboratories gained over 40 per cent. Russia’s Sovereign Wealth Fund has entered into an agreement with Dr. Reddy’s Laboratories to test and distribute COVID vaccine. The stock is at a 52-week high.
HCL Tech and Zee Limited gained more than 2 per cent each.
Pharma and IT stocks were the main gainers on the day. Bank and metal stocks, meanwhile, fell. The Nifty Metal Index lost 1.37 per cent.
