Closing Bell: Sensex loses 151 points, Nifty down 45 points

Indian equity benchmarks ended with losses on Wednesday as market sentiments were dampened after a statement from Chief Economic Advisor V Anantha Nageswaran that India’s real Gross Domestic Product (GDP) growth is expected between 6.5% to 7% for the financial year 2022-23.  Markets continued to trade red despite Foreign Minister S Jaishankar’s statement that India will continue buying Russian oil as it is advantageous for the country.

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The Sensex closed 151.60 or 0.25% lower at 61,033.55. The Nifty fell 45.80 or 0.25% to settle at 18,157.00. 

The broader indices ended lower with the BSE MidCap index losing 0.52% and the SmallCap index down by 0.33%. 

The top losing sectoral indices on the BSE were Realty down by 1.42%, Metal 1.04%, Consumer Durables 1.03%, Healthcare 0.98%, and Consumer Discretionary 0.93%, while Healthcare up by 1.47%, Consumer Durables 0.25%, Consumer Durables 0.22%, and Consumer Durables 0.03% were the gaining sectoral indices on BSE.

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Top laggards from the Sensex pack were Power Grid down by 4.06%, Tech Mahindra 2.32, Sun Pharma 1.49%, Bajaj Finserv 1.35%, NTPC 1.34%, ICICI Bank 1.05%, M&M 1.03%, Maruti Suzuki 0.98%, Ultratech Cement 0.97%, and Titan Company 0.87%.

Gainers on the Sensex were ITC up by 1.99%, Dr Reddy’s Labs 1.22%, Kotak Mahindra Bank 0.71%, HCL Technologies 0.56%, IndusInd Bank 0.44%, SBI 0.22%, Infosys 0.21%, and Axis Bank 0.17%.

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The rupee gained 45 paise to close at 81.47 against the US dollar on Wednesday.

Asian markets settled mixed with the KOSPI Composite up by 1.06%, the Nikkei 225 down by 0.56%, Shanghai Composite down by 0.53%, and the Hang Seng down by 1.20%.

European stock exchanges were trading red in mid-session deals. The US equity markets ended higher on Tuesday.

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Brent crude futures, the international oil benchmark slipped 0.64% to $94.75 per barrel.

According to stock exchange data, foreign institutional investors purchased shares worth a net of Rs  1,948.51 crore on Monday.