Tuesday, 20 December 2016

Sensex Loses, Nifty Breaches 8100 Mark, Nifty PSU Bank Index At 1-Month Low

Posted by suhani varma on Tuesday, December 20, 2016 with No comments

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Nifty PSU Bank index extended its losses and fell by 3% to a one month low even as Finance Minister Arun Jaitley said the RBI is releasing adequate amount of currency everyday. TCS was the biggest gainer of the day and was up by 2.23%, while Mahindra & Mahindra Financial, Bharat Financial Inclusion, Bajaj Finance were down in the range of 2-6%.

The BSE Sensex ended with a loss of 66.72 points at 26,307.98, while the NSE Nifty closed at 8,082.40, down 21.95. TCS, Ambuja Cement, ACC, ZEEL, ITC, NTPC, Infy and Wipro were among the biggest gainers, while Idea, Aurobindo Pharma, Bosch, Yes Bank and Bank of Baroda were among the biggest losers.

The India VIX (Volatility) index was down 2.02% at 14.53. The BSE Midcap closed at 12004.16 , down 1.40% and Smallcap indices closed at 11947.14, a dip of 0.92%. Out of 1447 stocks traded on the NSE, 1040 declined and 356  advanced today.

A total of 14 stocks registered a fresh 52-week high in trade today, whereas 20 stocks touched a new 52-week low on the NSE. Non-banking finance companies witnessed a fall. Experts said they have taken a hit due to uncertainty over earnings after demonetisation and as Maharashtra government said it will set up a probe on violations by microfinance companies in the state.

Public banks have been under pressure for the past few sessions as some of the measures announced by the RBI to incentivise digital payments are seen increasing their cost of operations.
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