Nifty ends below 17000, Sensex down 344 pts, Banks, Financials drag
Sensex & Nifty 50 at close: The Indian stock market indexes gradually erased all early gains, as the session progressed and closed slightly lower on Wednesday. The benchmarks turned negative in the last hour despite positive cues from Wall Street overnight, as selling pressure continued in the banking counter.
The Nifty 50 index closed lower by 71.15 points or 0.42 percent and closed at 16972.15 levels while the Sensex was down by 344.29 points or 0.59 percent and finished at 57555.90 levels. The Bank Nifty index ended lower by 359.90 points or 0.91 percent on the spot level and closed at 39051.50 levels
The broader markets outperformed the benchmarks today, as the Nifty midcap index edged up by 21.90 points or 0.07 percent and closed at 29971.25 levels. The Nifty smallcap index closed higher by 37 points or 0.41 percent at 9080.15 levels.
Nifty 50 top gainers & losers
The top gainers in the Nifty 50 index were Adani Enterprise, Adani Ports, Asian Paints, Tata Steel, and Titan and the top losers were IndusInd bank, Reliance, HUL, Nestle, and SBI
The top gainers in the Nifty midcap index were IEX, OIL India, and Petronet and the top losers were Astral, Jubli Foods, and IDEA
The smallcap top gainers were KPIT Tech, Alok Industries, and Indigo Points while the top losers were BCG, TV18, Network 18
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and Adani Enterprise The most active stocks in terms of volume were Tata Steel, HDFC Bank, and Adani Ports.
On the sectoral front, Metal, Consumer Durables, and Pharma closed higher while Media, PSU Bank, Banking and Financials sectors closed lower.
Global stock market updates
On the global front, the other Asian stock market indexes closed higher following the broadly positive cues from Wall Street overnight, as data showing ease in US consumer prices in February contributed significantly to uplifting the market mood.
Hang Seng led the gains in the Asian region up above 2% while Shanghai closed with modest gains. Japan’s Nikkei ended almost flat on Wednesday. European stock market indexes are trading with marginal losses, as banking stocks are still in negative territory following the global Silicon Valley Bank fallout.
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