Stock Market: Nifty falls at its lowest monthly level since February 2016

Domestic stock market on Friday closed lower for the third consecutive straight session, as caution prevailed ahead of bi-monthly policy meeting of the RBI, which is expected to take place next week.

The S&P BSE Sensex declined 97.03 points, or 0.27 percent, to end at 36,227.14 on Friday. The NSE Nifty50 index dropped 47.10 points or 0.43 percent to settle at 10,930.45. It also marked the lowest closing level recorded for both the indices since July 9. Selling took hold at the start of October futures and options (F&O) series in the derivatives segment as investors were concerned over the surging crude oil prices and escalating trade tensions between the US and China.

According to the report, twenty out of 30 Sensex stocks closed the session in the red. The top losers in the 30-share Sensex pack included Yes Bank (-9.72%), HeroMotoCorp (-5.16%), Bharti Airtel (-5.01%), Tata Steel (-4.85%), Vedanta (-3.60%) and Bajaj Auto (-3.43%). Yes bank was the top percentage loser on the both indices in private sector lender.

According to the news Agency Reuters, “The Sensex on Friday lost 614.46 points, or 1.67 percent, and the Nifty dropped 212.65 points, or 1.91 percent, for the week. The equity markets have been under pressure after concerns over bad debt in non-banking financial companies triggered a broad selloff.”

The Nifty fell 6.42 percent in September while BSE index lost 6.26 percent, it was the worst monthly performance since February 2016.

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