Sensex sheds 1%, Nifty slips below 16,900; all sectoral gauges barring pharma in red

BSE Sensex closed at 56,788.81, down by 638.11 or 1.11% and the CNX Nifty50 index gave up 207 points or 1.21% to close at 16,887 levels

ET Now Digital

Updated Oct 3, 2022, 16:13 IST

Sensex down 1, Nifty ends below 16,900; all sectoral gauges barring pharma in red

Photo : BCCL

Domestic benchmark indices were back in the red zone after witnessing a robust closing on Friday. The rupee retreated 53 paise to close at 81.87 against its previous close of 81.314 against the dollar as global investors rush to dollar-denominated securities, amid a massive rise in the dollar index.

The 30-share S&P BSE Sensex closed at 56,788.81, down by 638.11 or 1.11% and the CNX Nifty50 index gave up 207 points or 1.21% to close at 16,887 levels.

ONGC, Dr Reddy, Cipla, BPCL and Coal India were the top Nifty gainers of the day, while Adani Enterprises, Eicher Motors, Adani Ports, Tata Consumers, and Maruti Suzuki were the top laggards.

All sectoral gauges barring Nifty pharma logged losses on Monday: Nifty Metal (-3.02%), PSU Bank (-2.67%), Nifty FMCG (-2.09%) Auto (-2.095) were the worst hit.

Volatility index India Vix spiked 7% today indicating more turmoil for markets as investors globally face the possibility of a recession in Europe and the US.

Among notable movements today, ONGC (+4.5%) and Oil India (+3.2%) surged after the government slashed the windfall tax cut on domestic crude production. MCX closed 2% higher after the company extended services contract with 63moons for another three months. Beauty and fashion e-commerce platform Nykaa logged 2.5% gains after Board approved a bonus issue of 5 -1.

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