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Sensex, Nifty dragged by IT, banking stocks for third consecutive day

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Indian equity benchmarks fell for the third consecutive day on Thursday amid volatility caused by monthly expiration September futures and options contracts. Benchmarks fluctuated between gains and losses, but banking, information technology and metal stocks eased under selling pressure in afternoon trade. The Sensex fell by 394 points to an intraday low of 59,019.28 and the Nifty 50 index touched an intraday low of 17,590.95.

The Sensex ended 287 points lower at 59,126 and the Nifty 50 index fell 93 points to 17,618.

The Sensex has gained 5.68 per cent and the Nifty 50 index has gained 5.89 per cent in the September series.

Ten of the 15 sectors compiled by the National Stock Exchange ended with losses of nearly 1 per cent led by the Nifty Bank index. Nifty Metal, IT, Media, Private Bank, Auto and Financial Services indices also fell between 0.4-1 per cent.

On the other hand, Realty, PSU Bank, Pharma, Consumer Durables and Healthcare indices ended with gains.

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