Closing Bell: Sensex falls 150 points, Nifty closes at 15,799
- BSE Sensex ended 150.48 points or 0.28% lower at 53,026.97
- Nifty fell 51.20 points or 0.32% to 15,799.10
- Rupee fell 18 paise to close at a record low of 79.03 against the US dollar
Breaking their four-day gaining streak, equity benchmarks Sensex and Nifty declined on Wednesday due to profit booking in FMCG, IT, and banking shares following weak global trends and persistent foreign capital outflows.
In a volatile session, The BSE Sensex ended 150.48 points or 0.28% lower at 53,026.97 as 20 of its stocks settled with losses. During the day, it plunged 564.77 points or 1.06% to 52,612.68 ahead of the expiry in the derivatives segment on Thursday.
The NSE Nifty fell 51.20 points or 0.32% to 15,799.10 with 34 of its stocks settling in the red.
The broader indices ended in red with the BSE Mid cap index down by 0.70%, while the Small cap index was down by 0.18%. On the sectoral front, Power was up by 1.63%, Utilities was up by 1.54%, Energy was up by 0.87%, Oil & Gas up by 0.57% and Auto up by 0.34%, while Bankex down by 1.20%, IT down by 1.02%, FMCG down by 1.01%, TECK down by 0.83% and Telecom down by 0.54% were the top losing indices on BSE.
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Major laggards from the Sensex pack were Hindustan Unilever down by 3.46%, Axis bank down by 2.57%, Bajaj Finserv down by 2.19%, Titan Company down by 1.59%, Wipro down by 1.59%, Kotak Mahindra down by 1.57%, HCL Tech down by 1.42%, IndusInd Bank down by 1.20%, Bajaj Finance down by 1.17% and Infosys down by 1.12%.
Among the gainers were NTPC up by 2.42%, Reliance up by 1.98%, Sun Pharma up by 1.52%, UltraTech Cement up by 0.90%, ITC up by 0.90%, and Power Grid Corporation up by 0.62%.
The rupee depreciated 18 paise to close at a record low of 79.03 against the US dollar.
"Markets traded volatile for yet another session and lost nearly half a percent. Weak global cues were weighing on the sentiment in early trade which triggered a gap-down start however buying in select index majors trimmed the losses as the day progressed," Ajit Mishra, VP - Research, Religare Broking Ltd said.
European stock markets were also trading lower in mid-session deals. The US markets also ended lower on Tuesday.
"Consumer confidence is declining rapidly due to the uncontrolled & constant rise in inflation. India had to bear the double-whammy effect of a dampening global equity market and rising crude prices as major suppliers like Saudi are unable to boost the output in the short term.
"However, the domestic market was able to recover most of the losses due to the strong movement of index heavyweights, PSUs, metals, and oil & gas stocks before slipping some gains by the end of the day due to volatile global market," said Vinod Nair, Head of Research at Geojit Financial Services.
Brent crude, international oil benchmark surged 0.31% to $118.3 per barrel.
According to stock exchange data, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,244.44 crore on Tuesday.