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Stocks witness Selling pressure, Pharma Stocks Gain


The NSE flagship Nifty closed the day in the red, down by 129 points at 12,119-mark. Sensex too declined 458 points at 41,155.12 levels, on increased selling weighed in Metal and Banking stocks

The top losers which pushed the Nifty were Vedanta down by 4.84 percent, Tata Steel by 4.73 percent, JSW Steel down by 4.27 percent, IndusInd Bank-down by 3.12 percent, and Hindalco down by 2.63 percent,

All sectoral indices, barring Nifty Pharma, closed the day with selling. Nifty Metal witnessed sharp selling, down 3.09 percent, while Nifty PSU Bank slipped 2.25 percent and Nifty Bank lost 1.29 percent, each. Nifty consumer goods index (FMCG) was slipped 1.03 percent, and Nifty IT dropped 0.48 percent. Get the  Free Nifty trading tips and the latest stock trading updates from here.

Major gainers in the Nifty50 pack of stocks, it comes Reddys Laboratories, Mahindra & Mahindra, Cipla, Ultratech and Eicher Motors.

Metal prices dropped on demand concerns after the Coroona Virus surge in China. Vedanta, JSW Steel Tata Steel, and Hindalco decliend4 to 4.75 percent.

Nifty Pharma jumped 1.47percent led by DrReddy’s which rose over 5.56 percent after presenting its quarterly earning numbers.