Sensex slips 141 pts, Nifty ends at 11,126

Monday,   07-Oct-2019   04:05 PM (IST)

Monday turned out to another disappointing day for the domestic equity market as concerns over weak economic growth weighed on investor sentiment. The Reserve Bank of India (RBI) on Friday sharply cut the GDP growth forecast for FY20 to 6.1 per cent from 6.9 per cent, earlier. Besides, selling in counters such as pharma, metals, auto, PSU banks, and IT dragged the market lower. Additionally, uncertainty over US-China trade war on the global front, too added to the investors' woes. Extending its losing streak into the sixth consecutive session, the S&P BSE Sensex lost 141 points or 0.38 per cent to end at 37,532 levels with YES Bank (up over 8 per cent) being the top gainer and Tata Steel (down 2.50 per cent) the biggest loser. ITC, TCS, L&T, HDFC duos, and Infosys contributed the most to the index's fall while Axis Bank, ICICI Bank and YES Bank gave the much-needed support. In the broader market, the S&P BSE MidCap index ended at 13,680.62, down 33 points or 0.24 per cent and the S&P BSE SmallCap index lost 96 points or 0.75 per cent to close at 12,713.02. On the NSE, the broader Nifty50 index settled at 11,126.40, down 48 points or 0.43 per cent.  Volatility index India VIX rose over 1.50 per cent to end at 17.85 levels.  On the sectoral front, pharma stocks bled the most, followed by metal, realty, and PSU bank stocks. The Nifty Pharma index closed at 7,148.95 levels, down 247.95 points or 3.35 per cent. Market will remain closed on Tuesday on account of Dussehra.