Taking Stock | Market ends lower for second straight session; realty, pharma weigh heavy

Taking Stock | Market ends lower for second straight session; realty, pharma weigh heavy

Indian markets witnessed profit-booking for the second consecutive session on November 17, dragged by realty, oil & gas and pharma stocks even as auto stocks, like in the previous session, provide some support.

At close, the Sensex was down 314.04 points, or 0.52 percent, at 60,008.33 and the Nifty was down 100.50 points, or 0.56 percent, at 17,898.70.

The market started weak and remained under selling pressure to end near the day's low, with the Nifty closing below 17,900.

"Robust US retail sales data failed to inspire global markets, as domestic indices were seen trading with a negative bias to close deep in the red," said Vinod Nair, Head of Research at Geojit Financial Services.

Rising inflation in the UK—4.2 percent in October, up from 3.1 percent in the previous month—has begun to sour investor mood, adding to inflationary worries, he said.

"US October retail sales data rose 1.7 percent MoM, beating estimates. The surge in fresh Covid cases is keeping global investors on the edge, fanning fears of an economic slowdown. On the domestic front, the auto sector was in focus as reports suggested relief in semi-conductor shortages," Nair added.

Broader markets outperformed the benchmark indices. The BSE midcap index closed 0.2 percent