Sensex rises for 3rd day; Nifty Auto, Realty gain;IT tumbled 2.88 per cent
Published On: Monday, September 27, 2021 | By: Team KnowMyStock
The benchmark indices managed to eke out gains, amid buying in index heavyweight RIL, bank, and auto stocks in a high volatility session. Even as the global market setup remained firm, investors were jittery with the markets hovering at all-time high levels and amid steep valuations. Overall, the BSE Sensex gyrated 525 points and settled the day 29 points higher at 60,078. Meanwhile, the NSE Nifty shut shop at 17,855, up only 2 points. During the day, the BSE Sensex managed to log a fresh record high of 60,412. In the 30-pack index, Maruti, M&M, Bajaj Auto, and NTPC were the top gainers, up between 2-6 percent while HCL Tech, Tech Mahindra, Bajaj Finserv, and Infosys were the top losers, down up to 4 percent.
The broader markets underperformed the benchmark Sensex as the BSE Midcap closed flat and BSE Smallcap down 0.13 per cent. Consequently, the advance-decline ratio marginally favoured sellers. The market volatility, meanwhile, remained high as India VIX surged 6.67 per cent to 18.05.
On the sectoral front, defensives fell out of favour as Nifty IT tumbled 2.88 per cent, followed by Nifty Pharma that lost 0.93 per cent and Nifty FMCG that declined 0.90 per cent. On the other hand, auto stocks buzzed the most, with the Nifty Auto pack closing 3.22 per cent higher. Nifty Realty and Media were among other top gainers. While real estate stocks continued to gain traction amid increased demand, the media stocks rallied as Maharashtra allowed opening of cinema halls.
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