Sensex, Nifty continue to fall as Metal and Banking shares race downwards

The domestic benchmarks opened on a grim note, with Sensex dipping by 345 points and Nifty 50 touching 11,257 in the intraday deals.

At the end of the day, Sensex closed at 38,107 registering a fall of 199 points while NSE Nifty 50 ended at 11,314, dropping 46 points.

As many as seven Nifty indexes showed decline, out of 11 sector gauges compiled by NSE.

Nifty Metal Index led the fall with 3 per cent decline.  Nifty Private Bank, Nifty Bank  and Nifty Financial Services slid more than 1 per cent each.

Nifty Media Index, however, gained 2.45 per cent, becoming the biggest sectoral gainer of the day.

Mid-cap and small-cap shares showed mixed performance and did better than their larger counterparts. The Nifty Small cap 100 index fell 0.25% while  Nifty Midcap 100 index ended flat.

Coal India, Hindalco, Tata Steel, Grasim Industries, IndusInd Bank were top losers in the Nifty 50 basket, with Vedanta leading the way with a loss of 4.66% and closing at Rs 144.25.

While the banks continued with poor show, YES Bank did well to end at Rs 42.75, surging 33.59%, after the bank's CEO Ravneet Gill assured that the bank has enough liquidity and is stable.

Zee Entertainment, Bharat Petroleum, Tata Motors, Eicher Motors, Indian Oil,  HCL Technologies, ITC, Power Grid, Titan and Wipro were also among the top performers.