Indian equity indices failed to sustain Friday’s rebound and ended lower on September 7, with the Nifty slipping below the 23,800 mark as selling pressure was seen across sectors, barring healthcare.
The benchmarks opened lower amid mixed global cues and extended their losses as the session progressed, dragging the Nifty below 23,750 and Sensex below 76,000. Persistent uncertainty over the Middle East conflict, coupled with elevated crude oil prices, weighed on investor sentiment and kept the markets under pressure.
At close, the Sensex was down 382.62 points or 0.50 percent at 76,132.81, and the Nifty was down 118.55 points or 0.50 percent at 23,779.15.
The broader market traded mixed with Nifty Midcap index slipped 0.5%, while the Smallcap index ended on flat note.
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Biggest Nifty losers were Infosys, SBI Life Insurance, Tech Mahindra, Jio Financial, HDFC Life, while gainers included Apollo Hospitals, Bharti Airtel, L&T, Coal India, Max Healthcare.
Except pharma (up 0.75%), all other sectoral indices ended in the red with Information Technology, Media, Metal, PSU Bank, Realty shed 1-2.8 percent.
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More than 240 stocks touched 52-week high including Syrma SGS, Vodafone Idea, City Union Bank, Solar Industries, Welspun Living, Redington, Piramal Pharma, Gland Pharma, Maharashtra Seamless, Lenskart Solutions, Anand Rathi, RBL Bank, Elgi Equipments, New India Assurance, Capri Global, among others. Click to View More
On the other hand more than 100 stocks touched 52-week low, including HEG, Godrej Consumer, Swan Corp, JK Lakshmi Cement, Dabur India, Indiamart Intermesh, Britannia Industries, Bikaji Foods, ICICI Lombard, Tata Sonsumer Products, P&G Hygiene, , among others. Click to View More
Among individual stocks, Zee Entertainment Enterprises shares fell 6% after the CBI registered a ₹1,322 crore loan fraud case against Subhash Chandra, while Molbio Diagnostics shed 2.5% despite reporting a consolidated profit.
Morepen Laboratories gained 4% after successfully completing the first phase of its manufacturing capacity expansion programme ahead of schedule. Urban Enviro Waste Management shares jumped 8% after the company received an order worth ₹219 crore. Brightcom Group gained 7% after its inclusion in the FTSE Global Equity Index Series (FTSE GEIS) Micro Cap Index, while Avalon Technologies advanced 6% after Nomura maintained a ‘Buy’ rating and raised its target price to ₹2,767.
Indoco Remedies fell 4.6% after the US FDA issued seven observations for its sterile manufacturing unit in Goa. Vodafone Idea rallied nearly 4% following reports that the Supreme Court dismissed the Centre’s plea seeking a ₹363 crore GST demand from Vodafone Mobile.
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The Indian rupee ended flat for the second consecutive session at 94.49 per dollar on Monday, unchanged from Friday’s close of 94.49.
New Listing
Shares of Purple Style Labs ended marginally lower at Rs 568.50 after making a weak debut on the stock exchanges on September 7. The stock got listed at a discount of nearly 7 percent at Rs 535 against issue price of Rs 575 per share.
