MARKET UPDATE: Sensex down 92 points at 59,975 levelsand Nifty at 17,878 levels, down 38 points
Published On: Monday, November 8, 2021 | By: Team KnowMyStock
Equity markets were volatile on the first trading day of Samvat 2078(8th November 2021). After hitting an opening high of 60,434, the BSE Sensex gave up gains and was down 92 points at 59,975 levels in early deals. Its NSE counterpart Nifty50, on the other hand, was at 17,878 levels, down 38 points. IndusInd Bank was the biggest loser, down 10 percent, amid reports of lapses in governance and accounting norms related to allegedly 'evergreen' loans running into thousands of crores since the outbreak of Covid-19. On its part, IndusInd Bank on Saturday admitted that its micro-finance arm gave nearly 84,000 loans "without customer consent" due to a "technical glitch" on May 21, but denied whistleblowers' allegations of "evergreening". Sun Pharma, Asian Paints, Tata Steel, M&M, HCL Tech, and HDFC Bank were some of the other tops drags on the 30-pack index. On the upside, L&T, Kotak Bank, Maruti Suzuki, and Airtel were trading with up to 1 percent gains.
In the broader market, the BSE MidCap and SmallCap indices slipped up to 0.44 per cent. Sectorally, the Nifty Pharma index was down 2 per cent on the NSE, followed by the Nifty Private Bank index, down 1 per cent. On the flipside, only the Nifty Media and Auto indices were trading higher, rising up to 0.8 per cent.
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