Sensex down 400 points

The Sensex fell by 400 points on selling pressure. The Nifty was down 100 points. The Nifty closed at 15,208. The Sensex closed at 51,703.

The stock market lost ground for the second day in a row. Global indications led to strong market volatility. IT and pharma stocks continued to see selling pressure. At the same time, the Nifty found support at 15,200 during selling pressure.

Shares of the public sector bank saw gains today. Nifty rose by 5.86 per cent. Shares of four public sector banks gained over 19 per cent. The Nifty Public Sector Bank Index gained for the fourth day in a row.

At the same time, Bank Nifty lost ground on selling pressure on shares of public sector banks, despite gains in public sector banks. Bank Nifty closed below 37,000 points.

The Nifty Pharma index was down 1.72 per cent and the Nifty IT index was down 1.3 per cent. While the midcap index was up 0.3 per cent, the smallcap index remained flat.