The Indian equity markets erased all their morning gains to settle in negative territory on Thursday, August 27, with the BSE Sensex seeing a sharp downturn at the fag end of the session on its first monthly expiry following the introduction of the closing auction session (CAS).
At the close, the NSE Nifty50 was quoted at 24,090.85, down 116.90 points or 0.48%, while the BSE Sensex finished 539.35 points or 0.70% lower at 76,933.59.
Broader markets remained under pressure too, as the Nifty Midcap 100 and Nifty Smallcap 100 indices settled lower by 0.10% and 0.13%, respectively.
On the sectoral front, barring Nifty Pharma, Healthcare, Consumer Durables and select private banks, the other sectors settled lower, with Nifty PSU Bank being the top laggard, settling nearly 1% lower.
Market breadth was in favour of the bears, as 2,160 out of 3,619 traded stocks on the NSE settled lower, while 1,341 managed to finish with gains. Meanwhile, 118 stocks remained unchanged on Thursday.
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