An evening walk down the D-St | Sensex fails to hold 39K, midcaps underperform

Benchmark indices ended lower on after a rangebound day. Nifty ended just just above 11,700-level, but Sensex failed to hold on to the 39k mark.

The S&P BSE Sensex closed 50.12 points lower at 38,981.43, while Nifty was down 23.40 points at 11,724.80. About 1,053 shares advanced, 1,442 shares declined, and 163 shares were unchanged.

Yes Bank, Bharti Infratel, Power Grid Corp, HDFC Bank and Hero Motocorp were the top gainers on the Nifty, while Britannia Industries, Zee Entertainment, Tata Motors, ICICI Bank and IndusInd Bank were the losers.

Among sectors, except infra all other indices ended in the red led by IT, pharma, FMCG, auto and bank.

Midcaps continued to underperform with the index down 106 points. Volatility index spiked 5 percent reverting to the 23-mark.

Bajaj Auto gained over 1 percent on the back of above-expectation of auto sales. YES Bank was up 4 percent today after recording the biggest 1-day fall on Tuesday. Market breadth was in favour of the declines with the advance-decline ratio at 1:2.