Markets reversed the trend and slipped into negative terrain; Sensex declines 95 to close at 38,991
Domestic Indices marginally corrected in today’s trading session amid mixed Asian cues and weekly F&O expiry
Domestic Indices marginally corrected in today's trading session amid mixed Asian cues and weekly F&O expiry. The benchmark index Sensex closed down by 95.09 points, 0.24 per cent, at 38,990.94, while Nifty 50 fell by 7.55 points, or 0.07 per cent, to settle at 11,527.45. Nifty is currently consolidating in the range of 11,300-11,600 with bias remaining in favour of the bulls.
Bank Nifty, which was down by 343.70 points, or 1.44 per cent, to 23,530.85, was the worst-performing index for the day based on the Supreme Court observation on loan moratorium case. The Supreme Court said that banks should not take coercive action against borrowers.
The top three Nifty gainers were Bharti Infratel, Grasim and Titan whereas the top three losers were ICICI Bank, Bharti Airtel & Axis Bank. However, the broader market at BSE outperformed the Sensex and closed with gains. The Mid-cap gained 0.4 per cent while Small-cap climbed 0.74 per cent.
Sebi's new margin rules came into effect from September 1, 2020. As per the new rule, brokers must collect margins from investors upfront for any purchase or sale of shares. Failing to do so will attract a penalty. Sebi has introduced these measures to safeguard the interest of all investors.