Share Market Live: SGX Nifty Hints At Opening Gains; Reliance, Cipla, ONGC In Focus

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India’s stock benchmarks logged the steepest single day loss in nearly seven months, dragged by Reliance and banks. The S&P BSE Sensex and NSE Nifty 50 index declined for the fourth consecutive season, the longest losing streak in a month.

Sensex declined 1.96% to 58,465.89, down 1,170 points. The 30-stock gauge fell 2.72% in intraday trade. Nifty 50 also declined by a similar magnitude to 17,416.55. Reliance Industries Ltd. contributed the most to the index decline, decreasing 4.4%. Bajaj Finance Ltd. had the largest drop, falling 5.7%. Today, 42 of 50 shares fell, while 8 rose.

The broader indices underperformed their larger peers with both S&P BSE MidCap and S&P BSE SmallCap falling over 2.6%. Barring S&P BSE Telecom and S&P BSE Metal, all the other 17 sectoral indices compiled by BSE Ltd. declined with S&P BSE Realty shedding 4.5% and S&P BSE Energy falling 4%.

The market breadth was skewed in the favour of bears. About 906 stocks advanced, 2,498 declined and 164 remained unchanged.