Post-Session: Selling drags Sensex down 141 pts; Nifty below 11,130
07/10/2019 17:43

Indian benchmarks closed the volatile session on Monday in red, dragged down by profit-booking in select IT, banking, pharma and FMCG stocks mainly in the closing session. The 30-share BSE Sensex settled at 37,531.98 points, down by 141.33 points or 0.38 per cent as 24 of its components posted losses. The barometer oscillated between the day's high of 37,919.47 and the low of 37,480.53.

Broader NSE Nifty dropped by 48.35 points or 0.43 per cent to close at 11,126.40 as leading IT, pharma, financials, and oil stocks retreated due to profit booking. As many as 32 of Nifty components declined.

Among the major NSE losers, oil retailer BPCL dropped more than 5 per cent at close on reports that the government has cleared the way for its privatisation.

Top laggards in the Sensex pack included ONGC, ITC, Tata Steel, M&M, Tata Motors, L&T, TCS, Sun Pharma, NTPC, IndusInd Bank and Tech Mahindra, falling up to 2.97 per cent.

Pharma major Glenmark tumbled more than 9 per cent at the close after the US health regulator issued a warning letter to its manufacturing plant in Himachal Pradesh.

Aurobindo Pharma dived more than 19 per cent after reports that the US FDA has issued observations to one of its plants for violations of good manufacturing practices. The company clarified that the USFDA issues seven observations after an inspection but none of the observations is related to data integrity.

Among the sectors, CDS index was at 25720.03 up by 270.01 points or by 1.06%. Whirlpool of India Ltd. (Rs. 1996.30,+3.55%), Crompton Greaves Consumer Electricals Ltd. (Rs. 252.55,+3.17%), Blue Star Ltd. (Rs. 808.50,+1.34%), Voltas Ltd. (Rs. 663.60,+1.22%), TTK Prestige Ltd. (Rs. 6098.65,+1.07%),.

On the flip side, HCS index was at 11976.39 down by -297.88 points or by -2.43%. Aurobindo Pharma Ltd. (Rs. 458.50,-19.16%), Glenmark Pharmaceuticals Ltd. (Rs. 286.30,-9.30%), Piramal Enterprises Ltd. (Rs. 1477.10,-7.48%), Laurus Labs Ltd. (Rs. 331.95,-6.90%), Kopran Ltd. (Rs. 25.25,-6.65%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2973 , shares advanced were 985 while 1737 shares declined and 251 were unchanged.