An evening walk down Dalal Street

Episode 246,   Jul 18, 2018, 11:21 AM

Subscribe

Intensified selling in the last hour ensured that the market ended the day on a lower note, with the Nifty giving up 11,000-mark. The Sensex managed to close almost 150 points lower, a huge drop from the record high it achieved on Wednesday morning.

Investors looked to cash out of most sectoral indices, with major cuts visible among metals, auto and FMCG names. Weakness among midcaps too weighed on the market. The Nifty Midcap index ended over 1 percent lower.

The day began on a strong note, with the Sensex hitting a fresh record high at 36,747 in the first hour, while the Nifty too traded well above 11,050-mark.

At the close of market hours, the 30-share index ended down by 146.52 points or 0.40 percent at 36373.44, while the Nifty was down 26.00 points or 0.24 percent at 10982.00. The market breadth was negative as 878 shares advanced, against a decline of 1,689 shares, while 149 shares are unchanged.

ONGC, Asian Paints, and Indiabulls Housing were the top gainers on both indices, while metal stocks such as Tata Steel, Vedanta and Hindalco were the top losers.