On the basis of negative indications from other Asian markets, bears had a firm grip on Dalal Street in the mid-day session, with both the Sensex and the Nifty trading in the red. Traders remained concerned, despite a private report stating that there was a drop in mobility last week due to an increase in Covid-19 cases across the country, according to multiple indicators.

Also Read| LIC IPO live updates: Largest public issue opens for subscription

Asian markets were trading mostly in red with Straits Times trembling 2.68 points or 0.08% to 3,354.22, KOSPI fell 4.66 points or 0.17% to 2,675.80 and Hang Seng decreased 281.57 points or 1.33% to 20,820.32. On the flip side, Taiwan Weighted strengthened by 40.14 points or 0.24% to 16,539.04.

Also Read| Crypto news daily: Bitcoin data and price analysis for Wednesday, May 4, 2022

Sensex is currently trading at 56,215.20, down by 760.79 points or 1.34% after trading in a range of 56,211.99 and 57184.21. There were 7 stocks advancing against 23 stocks declining on the index.

Also Read| Gold, silver and other metal prices on Wednesday, May 4, 2022

The broader indices were trading in red with the BSE Midcap index being down by 0.66%, while the Small cap index was down by 0.29%. The only gaining sectoral indices on the BSE were PSU up by 0.53%, Realty up by 0.09% and IT up by 0.03%, while Consumer Durables down by 2.22%, Healthcare down by 2.05%, Consumer discretionary down by 1.11%, Metal down by 1.08% and Basic Materials down by 0.80% were the top losing indices on BSE.

Also Read| Sensex dips 27 points while Nifty around 17,070 in early trade

The top gainers on the Sensex were Power Grid up by 2.42%, NTPC up by 1.59%, Kotak Mahindra Bank up by 0.75%, Indusind Bank up by 0.50% and ITC up by 0.38%. On the flip side, Dr Reddy’s Lab is down by 2.72%, Sun Pharma down by 2.34%, Titan Co down by 2.32%, Bajaj Finserv down by 2.21% and Reliance Industries down by 2.07% were the top losers.

Also Read| US Stock Market: DJIA, S&P500, Nasdaq and Russell ended in green on Tuesday

Nifty is currently trading at 16,839.00, down by 230.10 points or 1.35% after trading in a range of 16,832.00 and 17,132.85. There were 13 stocks advancing against 37 stocks declining on the index.

Also Read| Trending Stocks: Tata Steel, AGEL, Adani Wilmar, Titan and others in news today

The top gainers on Nifty were Britannia up by 4.75%, ONGC up by 3.23%, Power Grid up by 2.31%, NTPC up by 1.59% and Kotak Mahindra Bank up by 0.80%. On the flip side, Apollo Hospital Ent. was down by 4.84%, Dr Reddy’s Lab down by 2.78%, Adani Ports & SEZ down by 2.73%, Sun Pharma down by 2.38% and Titan Co down by 2.35% were the top losers.