NTPC was the biggest gainer of 2.46 per cent, while Reliance Industries gained 1.98 per cent.
Highlight
- IndusInd Bank, Axis Bank, Bajaj Finserv, Wipro, HCL Technologies, were the major losers
- Reliance Industries, Sun Pharma, UltraTech Cement, ITC prevent major fall in barometer
- NTPC rose the most at 2.46 per cent while Reliance Industries grew at 1.98 per cent
The benchmark Sensex on Wednesday broke its four-day winning run, plunging over 150 points, led by profit-booking in IT, FMCG and banking stocks following weak global trends and continued foreign capital outflow. In a volatile session, the 30-share BSE Sensex ended 150.48 points or 0.28 per cent lower at 53,026.97 as 20 of its shares ended with losses. During the day before expiry in the derivatives segment on Thursday, it fell 564.77 points or 1.06 per cent to a low of 52,612.68.
The broader NSE Nifty ended 51.10 points or 0.32 per cent lower at 15,799.10, with 34 of its constituents closing in the red. In the four-day rally on Tuesday, the Sensex rose 2.59 per cent, or 1,354 points, while the Nifty was up 2.84 per cent or 436 points. Hindustan Unilever was the biggest loser among the Sensex stocks, down 3.46 per cent. IndusInd Bank, Axis Bank, Bajaj Finserv, Wipro, HCL Technologies, Titan, Kotak Mahindra Bank and Bajaj Finance were the other major losers. However, gains in NTPC, Reliance Industries, Sun Pharma, UltraTech Cement and ITC restricted the major fall in the barometer.
NTPC was the biggest gainer of 2.46 per cent, while Reliance Industries gained 1.98 per cent. Ajit Mishra said, “Markets traded volatile for another session and lost nearly half a per cent. Weak global cues weighed on sentiment in early trade, triggering a gap-down, though buying in select index majors took losses. reduced it.” , VP – Research, Religare Broking Ltd. said.
Vinod Nair, Head of Research, Geojit Financial Services, said consumer confidence is eroding rapidly due to uncontrolled and sustained rise in inflation. India had to bear the twin effects of a fall in the global equity market and rising crude oil prices as major suppliers like Saudi are unable to boost production in the short term.
“However, the domestic market was able to recover most of the losses due to strong movement of index heavyweights, PSUs, metals and oil and gas stocks before slipping some gains towards the end of the day due to volatility in the global market,” Nair said. ” , In the broader market, the BSE Midcap gauge fell 0.70 per cent and the Smallcap index fell 0.18 per cent.
Bank declined 1.20 per cent in the BSE sectoral index, while FMCG (1.01 per cent), finance (1 per cent), tech (0.83 per cent) and telecom (0.54 per cent) also declined. Energy, utilities, auto, metals, oil and gas, power and realty benefited. A total of 1,781 firms declined, while 1,521 advanced and 148 remained unchanged.
Meanwhile, international oil benchmark Brent crude rose 0.31 per cent to $118.3 per barrel ahead of the oil cartel OPEC meeting. “Markets will react to US GDP data in early trade and then focus will shift to monthly derivatives expiry. Nifty is hovering around its crucial hurdle of 15,900, with the recent fall in banking index pointing to more pain ahead. Ajit Mishra said.
Elsewhere in Asia, markets in Tokyo, Shanghai, Seoul and Hong Kong closed lower. European markets were also trading with a fall in deals in the middle of the session. On Tuesday, the US markets also closed with a fall. Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 1,244.44 crore on Tuesday, according to exchange data.
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