Sensex slips 433 points, Nifty closes below 17,900; banking, auto shares top losers

Indian market ended lower for the third consecutive session tracking losses in index majors ICICI Bank, HDFC and SBI. Sensex ended 433.13 points lower at 59,919 and Nifty fell 143.60 points to 17,873.60. SBI was the top Sensex loser, shedding 2.83 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank.

Titan, M&M, Reliance Industries and TCS were among the top Sensex gainers, rising up to 1.79%. Of 30 Sensex stocks, 24 ended lower.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "The level of 17,800 indeed acted as a crucial support and will continue to provide support going ahead. As long as the index trades above 17800, it can once again take a leap towards 18,000-18,100. The daily chart shows that the Nifty is witnessing oscillations between the key daily moving averages & the short term consolidation is expected to continue further."

Banking, auto and healthcare shares led the losses today. BSE bankex, auto and pharma indices ended lower by 529 points, 256  points and 313 points, respectively.

On the other hand, consumer durables shares led the gains with the BSE index ending 303 points higher at 45,108.

BSE mid-cap and small-cap indices fell 168 points to 26,219 and 158 points to 29,159, respectively.

Market cap of the BSE-listed firms fell to Rs 267.38 lakh crore today. On November 10, the market cap stood at Rs 268.94 lakh crore.

The market breadth was positive with 1,432 shares ending higher against 1,859 stocks in the red. 154 shares were unchanged.

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.

Benchmark indices fell for the second straight session on Wednesday, dragged by losses in HDFC Bank, ICICI Bank and HUL amid a weak trend in global markets. Sensex ended 80.63 points or 0.13 per cent lower at 60,352.82. Nifty fell 27.05 points or 0.15 per cent to 18,017.20. IndusInd Bank was the top Sensex loser, falling over 3 per cent, followed by Tata Steel, HUL, Asian Paints, Titan and SBI.

Meanwhile, the rupee depreciated by 18 paise to end at 74.52 against the US currency today as heavy selling pressure in domestic equities and a strong greenback in the overseas market weighed on investor sentiments.

At the interbank foreign exchange market, the local currency opened at 74.44, then lost further ground to quote 74.59 against the American currency.

Elsewhere in Asia, bourses rebounded in Shanghai, Hong Kong and Tokyo ended with gains, while Seoul was in the red.

Major indices in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.63 per cent to $83.16 per barrel.