Mumbai : The 30-share pack Sensex fell 172.61 points or 0.43 per cent to close at 39,749.85 points on Thursday while Nifty fell below 58.80 points or 0.50 per cent to end at 11,670.80 points. This is for the second day in succession that the market index has registered a fall.
The Markets continue to remain volatile as October F&O contracts expired leading to some rapid movements. Stocks were moving between green and red due to their individual Q2 earnings.
Markets would continue to remain volatile in the coming days unless the government and Central Bank comes out with economic revival package and/or stimulus to boost the economy, experts said.
Cement and Paint companies emerged among the top gainers but the market spirits were dampened due to losses caused by Financial stocks mainly because of weak global hues and uncertainties preceding US Presidential elections.
All over the world, the markets continued to be volatile in the backdrop of rise in Corona cases and weaker economies struggling for revival.
L&T slumped 5 per cent despite winning a 25K crore contract, while Titan, Axis Bank dropped unto 4 per cent after the Q2 results came in. HDFC and HDFC Bank witnessed sale of their stocks among the top drags in Nifty and Sensex.
However, shares of Jute companies went 11 per cent upwards due to Government support.
Among the major gainers were Asian Paints which went up by 3.02 per cent to touch 2224.80, followed by Tech Mahindra which bagged a Rs 400 contract from HAL, UltraTech Cement, Shree Cement, HCL Cement, Kotak Mahindra Bank and Wipro which rose 1 to 3 per cent.
L&T, which declared its Q2 results on Wednesday and received a high speed rail contract, went down 4.85 per cent followed by Titan, Adani Ports, ONGC, Axis Bank and M&M that dropped 2 to 4 per cent.
Navin Fluorine, Adani Enterprises, Future Retail, Affle India, Lux Industries and HDFC were among the top gainers from mid and small cap indices increasing between 3 and 8 per cent.
Among the top losers from the broader market space were ICICI Securities, Vodafone Idea, L&T Technology Services, Strides Pharma, Sonata Software and Tata Elxsi as they moved in the range of 3 to 9 per cent.
Except Nifty IT all other sectoral indices closed in the red. Nifty Media was the biggest loser down 1.85 per cent. Nifty Auto and Nifty FMCG closed down about one per cent each. Nifty Pharma also contributed to losses.
Experts have warned the investors to adopt a cautious approach as Markets would continue to remain volatile in the coming days.
