Tue, 14 Jul 2020

Mumbai (Maharashtra) [India], July 22 (ANI): Equity benchmark indices continued their downward slide on Monday with selling pressure more pronounced in banking and financial services amid muted global cues.

The BSE SP Sensex closed 306 points lower at 38,031 while the Nifty 50 was down 82 points at 11,337.

At the National Stock Exchange, sectoral indices were mixed. Nifty financial services dipped 2.57 per cent and banks by 1.66 per cent. FMCG and realty too were in the red. But pharma, metal and auto indices were in the positive zone.

Bajaj Finserv plunged 5.6 per cent to Rs 7,144.90 per share while HDFC was down 5.26 per cent. Kotak Bank also slipped by 3.6 per cent, Eicher Motors by 3.5 per cent and HCFC by 3 per cent.

However, Yes Bank made impressive gains with 9.5 per cent jump. Vedanta was up over 4 per cent, Hindalco by 3.4 per cent, Indiabulls Housing Finance by 3.08 per cent and Zee Entertainment by 3 per cent.

Meanwhile, Asian markets fell as investors scaled back expectations of an aggressive Federal Reserve interest rate cut. A rise in crude oil prices also weighed on sentiment.

Japan's Nikkei was down by 0.23 per cent, Shanghai Composite Index by 1.27 per cent, Hang Seng by 1.37 per cent and South Korea's KOSPI by 0.05 per cent. (ANI)

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