Sensex closes 155 points below as banking and metal stocks suffer
At NSE, the majority of sectoral indices were trading lower expect IT and FMCG. Nifty's PSU bank was low by 3.4 per cent, private bank by 2.7 per cent, pharma by 1.9 per cent, realty by 1.2 per cent and auto by 1 per cent.
Among major stocks, Indiabulls Housing Finance tanked 34.4 per cent after the Delhi High Court agreed to hear a PIL alleging fund diversion and accounting irregularities by promoters. UT closed at Rs 255.5 per share.
Private lender Yes Bank shares tumbled by 14.3 per cent to Rs 41.75 despite RBI's nod for further capital raising.
Reliance Capital slipped 12.3 per cent after the company's chairman Anil Ambani told the shareholders during AGM that company will exit lending business.
Renewable energy solution Suzlon fell by 10.2 per cent despite denying reports that it has filed bankruptcy and will soon be approaching NCLT.
Other Major laggards were IndusInd Bank that dropped 6.1 per cent, SBI by 3.6 per cent, ICICI Bank by 3.4 per cent.
Zee Entertainment slipped 3.3 per cent, while drug-maker Cipla lost 3.2 per cent. Other stocks such as HDFC, Sun Pharma, Axis Bank and Britannia too closed in the negative territory.
HCL Technologies, on the other hand, gained 3.6 percent, Infosys by 2.8 per cent, TCS by 2 per cent and Tech Mahindra by 1.6 per cent. Nestle India, Adani Ports, Reliance Industries, ITC and UPL too ended in a positive zone.
Posted By: James Kuanal