Indian equity benchmarks BSE Sensex and Nifty 50 suffered sharp losses on Wednesday. Selling pressure witnessed across all sectors; financial, auto and metal stocks were the worst hit. Larsen and Toubro top laggard among blue-chip stocks, down 1.80 per cent. Axis Bank, Bajaj Finserv, Bajaj Finance, IndusInd Bank and SBI among other laggards. Power Grid Corp top Sensex gainer, up 3.42 per cent. NTPC, Titan Company, HCL Tech, Asian Paints and Nestle among other top performers.
Earlier in Asian Indices, South Korea’s Kospi fell by 0.97 per cent, Japan’s Nikkei 225 index declined by 0.35 per cent. China’s Shanghai Composite surged by 0.32 per cent.
Market Overview
The BSE Sensex and Nifty50 declined by 0.64 and 0.67 per cent respectively. The Sensex of the Bombay Stock Exchange closed at the 51,900 level while Nifty50 of the National Stock Exchange settled at the 15,635 mark. The Sensex fell 333 points to trade at 51,941 and the Nifty50 declined by 104 points to trade at 15,635.
Nifty50 Index
In the 50-share pack of Nifty50, Power Grid Corp was the biggest gainer, increased by 3.44 per cent. Asian paints, NTPC, Titan Company, Divis Labs and Cipla were among the other gainers.
On the other hand, Tata Motors was the worst performer in the pack, down by 2.66 per cent. Adani Ports, Larsen, Shree Cements, Reliance, IndusInd Bank and IOC were the other worst performers in the pack.
Small-cap and Mid-cap Indices
The Nifty Midcap-100 index declined by 0.72 per cent and the Nifty Smallcap-100 index fell by 1.35 per cent. In Nifty Midcap 100, Tata Power gained 6.49 per cent, REC rose 6.04 per cent, CG Consumer, Indiabulls Hsg and Varun Beverages also surged, while PNB Housing Finance, Edelweiss and Dhani Services declined. In Nifty Smallcap-100, Ashoka Buildcon gained 5.09 per cent. On the other hand, Just Dial Real fell 5.94 per cent, Lemon Tree Hotel, MMTC Ltd, Sun Pharma Advance and DCM Shriram declined.
Sectoral Indices
In NSE sectoral indices, 16 out of 17 sectors declined. Only Nifty PSE closed on the green side of the market and gained 0.31 per cent. On the other hand, Nifty Media was the worst performer, down by 2.10 per cent. Nifty Realty, Nifty PSU Bank and Nifty Auto also declined.
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