Market on Wednesday | Nifty hits 11-month low, ends below 23,900; Sensex declines 1,342 pts
After a strong rebound in the previous session, the market once again came under pressure on March 11, with the Nifty 50 falling below 23,850, intraday, amid selling across the sectors
Amid mixed global cues, the market opened on a weak note and extended losses as the session progressed, dragging the benchmark indices to their lowest levels in 11 months.
At close, the Sensex was down 1,342.27 points or 1.72 percent at 76,863.71, and the Nifty was down 394.75 points or 1.63 percent at 23,866.85.
Broader indices outperformed the main indices with Nifty Midcap index falling 1.2%, while smallcap index declines 0.36%.
On the sectoral front, auto, FMCG, PSU Bank, Consumer Durables, Private Bank, Capital Goods, IT, realty shed between 1-3%, while oil & gas, pharma indices ended with marginal gains.
Biggest Nifty losers were Bajaj Finance, Axis Bank, Bajaj Finserv, Eicher Motors and M&M, while gainers were NTPC, Jio Financial, Coal India, Sun Pharma, Dr Reddy’s Labs.