MARKET UPDATE:Sensex dipped 200 points to 37,820 levels and the Nifty fell below the 11,200-mark
Published On: Tuesday, September 22, 2020 | By: Team KnowMyStock
The markets in India headed lower after a flat start today(22nd Sept.2020), in tune with subdued global cues.
The S&P BSE Sensex dipped 200 points to 37,820 levels and the Nifty50 index fell below the 11,200-mark. Bajaj Finance, Bajaj Finserv, ONGC, and Tata Steel, all slipped over 2 percent and were the top Sensex laggards. On the other hand, IT stocks HCL Tech, Tech Mahindra, and TCS rose 1 percent each.
Shares of GMM Pfaudler tanked 10 percent on the BSE after the company said its promoters planned to sell up to 28 percent stake worth up to Rs 1,433 crore in the company via offer for sale.
The trend among Nifty sectoral indices was mixed, with the Nifty Metal index, down 1 percent, leading the list of losers.
Meanwhile, the broader markets underperformed their benchmark peers with the S&P BSE MidCap and SmallCap index dipping over 1 percent and 2 percent, respectively.