The Sensex ended 171 points lower at 38,194 points. Similarly, Nifty declined by 39 points to close at 11,278 points. The Nifty was down by 11,185 points during the day.

The Indian stock market started with a loss following the fall in the US stock market on September 8. At no point in the trade did the indices returned a profit.

Whiles 25 shares in Nifty were up 24 shares were down. There was no change in the share price. Tata Steel, Zee Limited, Cipla, Reliance Industries and Grasim Industries were the top five gainers in the Nifty. Tata Steel rose 3.57 per cent. Pharma and metal stocks were the main gainers of the day. The decline was visible in other areas. Bank stocks fell sharply.

SBI, GAIL, Bajaj Finserv, Axis Bank and IOC were the biggest losers in the Nifty. SBI fell 4.90 per cent. Shares of GAIL, Bajaj Finserv, Axis Bank and IOC lost more than 2 per cent each.

The Nifty Bank Index lost 2.1 per cent. The market is mainly looking at a petition before the Supreme Court seeking a waiver of interest during the moratorium period. Concerns over whether the verdict in the case would be adverse led to a fall in bank shares.

The Nifty Pharma Index gained 1.9 per cent. Shares of Biocon, Cipla, Arbindo Pharma, Lupine and Torrent Pharma gained more than 2 per cent each.

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 The Sensex closed at 38,040 points. The Sensex had gained over 38,109 points during trading. The Nifty closed at 11,214 points. It had reached 11,231 points during trading on the day.

The top five gainers were Asian Paints, Bajaj Finance, UPL, Bajaj Finserv and IndusInd Bank. Asian Paints was up 4.65 per cent on the day. Bajaj Finance gained 3.74 per cent and UPL 3.49 per cent.

Titan Industries, HCL Technologies, Infosys, Sun Pharma, Mahindra & Mahindra were the top five losers in the Nifty. Titan Industries lost 2.15 per cent and HCL Technologies lost 2.15 per cent.

Shares of private banks were the main gainers on the day. RBL Bank rose 9.27 per cent. IDFC First Bank gained 6.49 per cent and Federal Bank gained 4.48 per cent on the day.

 Some pharma stocks also gained. Alcom Labs was up 4.44 per cent and Divis Labs was up 2.46 per cent. Shares of Alcom Labs, Divis Lab, Cipla, Dr Reddy’s and Arbindo Pharma hit 52-week highs on August 7.

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