Indian Stock Market Falls for Second Day, Nifty Around 19,900

20 Sep 2023 , 03:41 PM

Indian benchmark indices fell for the second consecutive day on September 20, with the Nifty index closing around 19,900. The Sensex closed at 66,800.84, down 796.00 points or 1.18%.

Bank, metal, and realty stocks led the decline, with HDFC Bank, JSW Steel, Reliance Industries, BPCL, and SBI Life Insurance being the biggest losers on the Nifty. The only gainers on the Nifty were Power Grid Corporation, Coal India, ONGC, Sun Pharma, and Asian Paints.

The other major laggards on the Sensex are all large-cap stocks with a significant weight in the index. Reliance Industries is India’s largest company by market capitalization, Bharti Airtel is the country’s largest telecom operator, Maruti Suzuki is the leading carmaker, Titan is a leading jewelry retailer, and Hindustan Unilever is a major consumer goods company.

The gainers on the Sensex were mostly mid-cap and small-cap stocks. NTPC is India’s largest power generator, IndusInd Bank is a private sector bank, Axis Bank is another large private sector bank, and Mahindra & Mahindra is a leading automobile manufacturer.

Amongst sectors, except power, all other sectoral indices ended in the red, with bank, metal, and realty down 1% each. The BSE midcap index shed 0.30%, and the smallcap index declined 0.5%.