Sensex gyrates 370 pts, ends 127 pts down; Nifty holds 17,350; RIL dips 2%

Overall market breadth favored buyers due to solid buying in the broader market.

Stock Market: Benchmark indices got off to a rocky start this week, with the S&P BSE Sensex swaying 370 points intraday before settling 127 points, or 0.22 percent, lower at 58,178.

 

The biggest gainers on the 30-share pack were Kotak Bank (up 1.7%), Tata Steel, TCS, and Bajaj Finserv, while the best failures were Reliance Industries (down 2.2%), ICICI Bank, HUL, HDFC Bank, and M&M.

Meanwhile, its NSE equivalent closed at 17,355, down 14 points or 0.08 percent. The Nifty Metal index ended the day almost 1% higher, while the Nifty Private Bank index fell 0.5 percent.

 

 Healthy buying in the broader market, on the other hand, kept overall market breadth in the buyers’ favor. The BSE MidCap and SmallCap indices ended the day 0.3% and 0.8% higher, respectively, for a 1.1:1 advance-decline ratio.