Sensex falls 550 pts dragged by auto, IT stocks

The BSE Benchmark falls over 550 points today in anticipation of a interest rate hike by the RBI. Sensex shed 550.51 points at 35,975.63 due to falling rupee and surging crude oil prices. The Nifty ended 150.05 points lower at 10,858.25 with heavy selling pressure in the market.

On Nifty50 index, shares of Mahindra & Mahindra, Eicher Motors, Bharti Infratel, TCS, Axis Bank were dragging the market down. Among the gainers were Yes Bank, Hindalco, Indiabulls, Hindustan Petroleum and Vedanta which fell upto 5.63%.

NSE Sectorally, auto sector was leading the fall, down by 3.20%, followed by IT down 2.04%, while FMCG, and bank sectors were down over 1 per cent each.  Barring Nifty metal index which went up 1.81%, all the sectoral indices ended in red.

Nifty Auto index fell over 2.94% at 9,375.30 dragged by M&M, Eicher Motors and TVS motors which fell upto 7.03 percent in trade.

Share