Sensex falls 531 points, Nifty ends below 14,250, RIL & Financials fall, Pharma rises

Market outlook today: Reliance securities

Mumbai : The 30-pack Sensex touched a high of 49,263.15 and a low of 48,274.92 to finally settle at 48,347.59 at close on Monday. RIL and  financials sent Sensex 531 points lower.

Nifty was below 14,250., Apollo Tyres fell 9 per cent, Auto Pharma rose 8 per cent.

RIL and financials led the market fall as 21 of the 30 Sensex stocks ended the day in the red.

Among the index contributors were RIL, HDFC, Kotak Bank, HCL Tech, Asian Paints.

The top Index gainers included Bajaj Auto(1.82 per cent), Axis Bank (1.81 per cent), HDFC Bank (1.63 per cent).

The top index losers included RIL (5.60 per cent), IndusInd Bank (5.55 per cent), HCL Tech (3.86 per cent).

All the BSE Sectoral indices except basic materials, metal and healthcare ended the day in the red.

S&P BSE Healthcare was the biggest sectoral gainer, up 0.93 per cent.

S&P BSE Energy was the biggest sectoral loser, down 4.44 per cent.

Among the volume toppers were RIL, Infosys, Bajaj Finance, IndusInd Bank and Kotak Bank.

Market traded volatile and lost one per cent. The benchmark opened on a firm note in. keeping with positive global cues but the gains were wiped out soon. Nifty index ended lower by 0.9 per cent at 14,238.9 level.

Except healthcare and metals sector, all indices ended with losses even as Oil and gas, IT and Auto were the top losers.

Domestic cues i.e decline in Reliance after Q3 results and news of fresh India-China border clash at Sikkim border hit the market sentiments.

Experts expect the market to remain volatile in view of January month ending derivative contracts. All eyes are set on the forthcoming union budget on Feb 1.

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