Sensex gives up 60K, Nifty falls 151 points; IT, banking shares top losers

Benchmark indices were trading lower for the third straight session, dragged by losses in IT and banking shares amid mixed global cues. Sensex fell 453 points to 59,899 and Nifty fell 151 points to 17,865.

Tech Mahindra was the top Sensex loser, falling 2.45 per cent, followed by Tech Mahindra, Bajaj Finserv, SBI and PowerGrid.

Titan, Tata Steel, L&T, IndusInd Bank and RIL were among the top Sensex gainers, rising up to 1.71%.

IT and banking shares led the losses today. BSE IT and banking indices fell 373 points and 397 points, respectively.

BSE mid-cap and small-cap indices fell 161 points to 26,226 and 95 points to 29,221. Market cap of the BSE-listed firms fell to Rs 267.58 lakh crore today.

The market breadth was negative with 1,424 shares trading higher against 1,705 stocks in the red. 146 shares were unchanged.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "The daily chart shows that the Nifty is witnessing oscillations between the key daily moving averages. The range breakout on the upside will be considered once the index crosses the swing high of 18,112. On the other hand, 17,900-17,920 will act as a near term support zone."

Foreign institutional investors (FIIs) sold shares worth Rs 469 crore on November 10, and domestic institutional investors (DIIs) bought shares worth Rs 766 crore, as per provisional data available on NSE.

Global markets

Australia's S&P/ASX 200 was trading 42 points lower at 7,381. Nikkei rose 171 points to 29,277 and Shanghai Composite was trading 35 points higher at 3,528. Hang Seng index was trading 136 points higher at 25,132.

On Wall Street, the S&P 500 ended 38 points lower at 4,646, the Nasdaq fell 263 points at 15,622 and the Dow Jones lost 240 points to 36,079.