Nifty Plunges 1.13%; Sensex Sheds 900 Points, Dalal Street Loses Grip On Rally

The domestic equity market opened lower on Friday, September 6, as selling in telecom and banking stocks led to a decline in GIFT Nifty futures.

The National Stock Exchange's Nifty was quoting 0.91 per cent, lower amounting to 229 points, at 24,916.10 at 11:45 AM, while the S&P BSE SENSEX was trading at 81,408.65 levels, declining 0.96 per cent, amounting to 792.51 points.

On the other hand, SBI was down almost 2 per cent being the biggest loser. NTPC was down almost 1 per cent, and UltraTech Cement, down 0.8 per cent, came next on the list.

The biggest gainers, however, were the Bajaj Finance twins, (Bajaj Finance and Bajaj Finserv), both plunged over 1 per cent.

One of bajaj twins 'Bajaj Finserv was trading around ' Rs 1,872.80 per share on the national stock exchange.

Bajaj finserv's share opened at Rs 1,864.00 per share which is a Rs 0.64 decline. The stock recovered the level and went on to touch the day-high level of Rs 1,898.00 per share.

Indigo Paints fell more than 3.5 per cent in response to rumours that Peak Partners intended to sell an 11 per cent stake in the company through block deals. With a 4.6 per cent discount to the most recent traded price, the offer price is set at Rs 1,470 per share. According to reports, the offer is worth Rs 770 crore.

Following approval by the board of the company of a Rs 72 crore share buyback programme, Matrimony.com was trading 1.7 per cent higher at Rs 818 on the BSE. Twenty-four percent of the company's total equity capital, or up to seven lakh equity shares, will be repurchased.

The BSE SmallCap index was trading 0.73 per cent higher at 56,934.22 points, while the BSE MidCap index was trading 0.42 per cent higher at 49,197.29 levels in the overall market.