Domestic stock markets, closed on a lower note today, as liquidity concerns dragged down non-banking financial stocks. The S&P BSE Sensex declined 382.90 points or 1.09 per cent to end at 34,779.58.
The Nifty50 index of the National Stock Exchange (NSE) tanked 131.70 points or 1.24 per cent to settle at 10,453.05. The equity indices were dragged lower by PSU bank, realty, auto, metal, financial services and pharma stocks.
Twenty three out of 30 Sensex stocks finished the session in the red. Prominent losers in the 30-share Sensex pack were Yes Bank (-6.85 per cent), Adani Ports (-5.41 per cent), Maruti (-3.79 per cent), Tata Motors (-3.40 per cent), Tata Steel (-3.39 per cent) and SBIN (-3.35 per cent).
IIndiabulls Housing Finance (-13.37 per cent), Bajaj Finance (-6.97 per cent), Yes Bank (-6.39 per cent), Adani Ports (-5.80 per cent) and BPCL (-5.51 per cent) were the main losers on Nifty pack.
The domestic markets have been facing a liquidity crunch amid rising crude prices and depreciating rupee. The recent string of defaults by non-banking financial firms on debt repayment has compounded worries.
In terms of stock-specific action, Dewan Housing Finance Corp closed 12.34 per cent down on BSE. Reliance Industries closed 1.27 per cent down, ahead of quarterly results due after market hours. Hero MotoCorp Ltd closed 2.88 per cent down.
Shares of Infosys Ltd closed 1.16 per cent up on BSE, after the company posted a better-than-expected profit for the September quarter. The company maintained its forecast for revenue growth, but some brokerages remained concerned.>