The Sensex fell by 588 points and the Nifty by 183 points. The stock market fell for the sixth day in a row. The Sensex fell below 46,500 and the Nifty fell below 13,700 points. The Sensex closed at 46285.77 and the Nifty at 13634.60 amid heavy selling pressure.
Trading started with gains following favourable global indications, but the selling pressure of the past few days continued. The market has been falling for so many days since September last year.
It was the first time since February last year that it had lost five days in a week. The Nifty fell more than 1,100 points to its highest level ever.
Of the 50 stocks in the Nifty, 43 fell. All sectors except banks and real estate reported losses. The Nifty Bank Index rose 0.7 per cent. Shares of Public Sector Bank were the main gainers. Nifty IT and auto indices fell more than 2.5 per cent.
The decline in midcap and smallcap stocks was not as strong as that of largecap stocks. The Nifty midcap index was down 0.4 percent and the smallcap index was down 0.6 per cent.
Dr. Reddy’s was the biggest loser in Nifty stocks today. Shares of Dr. Reddy’s fell 5 per cent following the announcement of third-quarter results.
