Slight loss in stock market

The stock market on August 11 ended with a slight loss. The Nifty lost slightly after surging for six consecutive days. It closed above 11,300.

The Sensex was down 37 points and the Nifty was down 14 points on August 11. The Sensex closed at 38,369 points. The Sensex had lost 38,125 points during trading. The Nifty closed at 11,308. It had lost close to 11,242 points during the trading session.

While 23 stocks in the Nifty gained, 27 stocks declined. The top five gainers were HCL Tech, SBI, Tech Mahindra, Eicher Motors and Tata Motors. HCL Tech gained 4.66%.

Shares of public sector banks were the main gainers on the day. The Nifty PSU Bank Index gained 2.70%. Shares of SBI rose 4.33%. Shares of Indian Overseas and Punjab National Bank also gained over 3%.

At the same time, profit booking was seen among pharma stocks. The Nifty Pharma index was down 1.55%. Profit booking on high price caused pharma stocks to fall.

Kotak Mahindra Bank, Sun Pharma, Cipla, Britannia and Dr Reddy’s Laboratories were the top five losers in the Nifty. Shares of Kotak Mahindra Bank, Sun Pharma and Cipla fell more than 2%.