The stock market was on a downtrend after a gap of two days, as lack of trigger wiped out the momentum. At close, the Sensex was down 709.54 points or 1.35 per cent at 51,822.53, and nifty It had closed at 15,413.30, down 225.50 points or 1.44 per cent.
top gainers and losers
The laggards in these indices, including Hindalco, UPL, Tata Steel, JSW Steel, Wipro, ONGC, Reliance Industries, Adani Ports, Coal India, HCL Tech, SBI Life, Bajaj Finserv, Tata Consumer Products and IndusInd Bank, fell between 2.5 to 2.5. percent and 6 percent. Maruti Suzuki, TCS, Power Grid, Hero MotoCorp and BPCL were among the gainers up to 1.3 per cent.
broad market
In the broader markets, the Nifty Midcap 100 and Smallcap 100 indices fell up to 1.6 per cent. On the sectoral front, all major indices ended in the red with the Nifty Metal index down 5 per cent and the Nifty Oil and Gas index down 2 per cent.
Among the stocks, Jain Irrigation Systems rose over 12 per cent after the company merged its international irrigation business with Rivulis Pte Ltd, a part of Singapore’s Temasek Group, to form a global irrigation and climate major. announced plans to merge and reduce the company’s debt.
Vinod Nair, Head of Research, Geojit Financial Services, said: “The short-term pull-back rally reflects the level of uncertainty in today’s market. Weakness in global markets on account of quantitative strength pulled the market down. Later in the day the testimony of the US Fed Chair will be watched eagerly for clues about the future dot-plots of central banks.
global signal
European shares fell sharply on Wednesday, with the pan-European Stokes 600 falling 1.6 per cent in early trade. On Wall Street, the Dow Jones futures fell 1.4 per cent, or more than 400 points, while the S&P 500 and Nasdaq futures were down as much as 2 per cent.
Asian shares slipped in volatile trade on Wednesday, failing to extend Wall Street’s rally as persistent worries about interest rates and inflation remained a major focus for investors, while the Japanese yen hit a 24-year low against the dollar. reached at.
Tokyo shares rose on Wednesday as investors opened heart to Wall Street after losing last week on inflation fears. The benchmark Nikkei 225 index was up 0.67 per cent or 175.54 points at 26,421.85 in early trade, while the broader Topix index was up 0.70 per cent or 13.07 points at 1,869.27.
Major Wall Street indices jumped more than 2 percent on Tuesday as investors bought shares of mega-cap growth and energy companies after the stock market swooped last week on concerns of a global economic slowdown. The Dow Jones Industrial Average rose 641.47 points, or 2.15 per cent, to 30,530.25 and the S&P 500 rose 89.95 points, or 2.45 per cent, to 3,764.79. The Nasdaq Composite ended 270.95 points, or 2.51 per cent, higher at 11,069.30.
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