An Evening Walk Down D-Street: Market continues downward march; Yes Bank, BPCL shine
Episode 1749, Oct 03, 2019, 11:59 AM
In the last four sessions, investors have lost Rs 3.85 lakh crore as the overall market capitalisation of BSE-listed firms dropped to Rs 1,44,60,517.42 crore from Rs 1,48,45,854.70 crore on Sept 26.
Indian equities closed in the red for the fourth session in a row on October 3, as investors await the outcome of the country's central bank's policy meet.
The Reserve Bank of India's monetary policy committee (MPC) meeting is underway and the central bank will announce the policy rates on October 4.
Global markets too were under pressure as United States said it would slap tariffs on European goods, stoking fresh fears about the global economic slowdown.
The 30-share Sensex index closed 199 points, or 0.52 percent, down at 38,106.87, with 20 stocks in the red.
Vedanta, Tata Steel, IndusInd Bank, HDFC Bank and Kotak Mahindra Bank were the top losers in the Sensex kitty, while Yes Bank, Tata Motors, ITC, HCL Technologies and Power Grid were among the top gainers.
Nifty pack settled 46 points, or 0.40 percent, lower at 11,314. Among the 50 stocks in the index 31 suffered losses.
Broader BSE Midcap and Smallcap indices outperformed Sensex, finishing 0.30 percent and 0.38 percent down, respectively.
Among the sectoral indices, BSE Metal fell 3 percent, emerging as the top loser, followed by Basic Materials (down 1.78 percent) and Telecom (down 1.48 percent).
On the other hand, BSE Oil & Gas (up 1.85 percent) and Realty (up 1.14 percent) logged healthy gains.