Indian equity benchmarks the Sensex and Nifty ended lower
on Wednesday, dragged down by losses in banking stocks amid weak global market
trends. The start of the day was on a lower note. However, in the afternoon
deals, key indices staged some recovery, as some losses got trimmed, amid
reports that India’s urban unemployment rate dipped to 7.6% during the
April-June quarter from 12.6% during the corresponding quarter a year ago.

Also Read | Apple Far Out Event 2022: Why the iPhone 14 may be more expensive in India

The Sensex declined by 168.08 points or 0.28% to settle at
59,028.91. During the day, it slipped 474.1 points or 0.80% to 58,722.89. The
Nifty fell 31.20 points or 0.18% to 17,624.40.

The broader indices ended in green with the BSE Midcap
index up by 0.46% and the Small cap index up by 0.73%. The top gaining sectoral
indices on the BSE were Basic Materials up by 0.94%, Telecom up by 0.87%,
Healthcare up by 0.69%, Consumer Durables up by 0.59%, and Industrials up by
0.43%, while Auto down by 1.12%, Power down by 0.91%, Utilities down by 0.75%
and Bankex down by 0.51% were the top losing indices on BSE.

Also Read | Gold, silver and other metal prices on Wednesday, September 7, 2022

Major laggards from the Sensex pack were IndusInd Bank down
by 1.69%, Mahindra & Mahindra down by 1.32%, Maruti Suzuki down by 1.15%,
Bharti Airtel down by 1.08%, State Bank of India down by 0.95%, Tata Steel down
by 0.88%, ICICI Bank down by 0.85%, HDFC down by 0.72%, Tech Mahindra down by
0.71% and HCL Tech down by 0.65%.

Also Read | HAL shares rise over 2% as firm says it assembled gas turbines for INS Vikrant

Among the gainers were UltraTech Cement up by 4.13%, Sun
Pharma up by 0.71%, TCS up by 0.71%, Wipro up by 0.69%, Bajaj Finance up by
0.56%, Axis Bank up by 0.54%, Bajaj Finserv up by 0.48% and Titan Company up by

The rupee slipped 7 paise to close at 79.89 against the US
dollar following a strong dollar in overseas markets and losses in the domestic

Also Read | Ambuja Cements, ACC shares rise over 4% ahead Adani Group’s open offer closure

Asian markets ended mostly lower with the KOSPI Composite
down by 1.39%, the Nikkei 225 down by 0.71%, the Heng Seng down by 0.83%, and
the Shanghai Composite ended 0.09% higher.

European stock markets were trading mostly lower during the
mid-session deals. The US stock markets had ended with losses on Tuesday.

Also Read | Demat accounts surpass 10 crore mark for the first time

Brent crude, the international oil benchmark rose by 0.99%
to $93.75 per barrel.

According to stock exchange data, foreign institutional
investors (FIIs) were net buyers as they bought shares worth Rs 1,144.53 crore
on Tuesday.