Market Close: Sensex recovers Monday blues to close down by 306 points

The benchmark index extended losses by dipping 305.88 points or 0.80 per cent on Monday as HDFC twins and FMCG majors dragged the index, even as Reliance and TCS provided some support.

On the first working day of the week, the BSE Sensex closed negative for a three consecutive time. Sensex opened at 38,333.52 mark, which was also its intraday high and soon entered choppy trade during the morning session. It lost close to 500 points intraday. However in the last session, the market gained some stability and closed at 38,031.13, down by 0.80 per cent, while Nifty50 closed at 11,337.15, down by 82.10 points or 0.72 per cent. The most traded index Nifty Bank lost 495.00 points or 1.66 per cent at 29,275.35.

Index heavyweights that were dragging the Sensex were HDFC contributing negative 197.66 points, HDFC Bank contributing negative 166.14 points, Kotak Bank negative 53.43, while ITC and HUL Were contributing negative 33.45 and 32.27 points, respectively. On the other hand, Reliance Industries was contributing positive 99.80 points and TCS 33.75 points.

Top loser for the day were Nifty50 frontrunners, Bajaj Finserv, HDFC and Bajaj Finance down by 4.78, 4.58 and 3.77 per cent, respectively, followed by HDFC Bank and Kotak Bank down by 3.05 and 2.76 per cent, respectively. While on Sensex HUL and ITC were among the top loser down by 2.67 and 1.49 per cent, respectively.

Top gainer for the day were Yes Bank up by close to 10 per cent, while Sun Pharma, Vedanta, ZEEL and Infratel were up in the range of 3 to 2 per cent. While on Sensex included Reliance, Asian Paint and Maruti.

Sectorial indices were mixed on Monday with Nifty Auto recovering. Nifty Media and Metals were up by 1.75 per cent each, followed by Nifty Pharma up by 1 per cent. While Nifty Bank was down by 1.66 and FMCG was down by 1.05 per cent and Realty was down by 1.23 per cent.