Markets Extend Losing Run; Sensex Skids 68 Points, Nifty Settles At 17,063
Kotak Bank (up 2.5 per cent) was the top Sensex gainer, followed by Titan, IndusInd Bank, Maruti Suzuki, Wipro, and Infosys
New Delhi: The key benchmark indices, Sensex and Nifty, on Wednesday extended their sixth straight losing streak due to fag end selling pressure, mainly in financials and automobile stocks.
The Sensex closed 68.62 points lower at 57,232 and the Nifty ended 28.95 points down at 17,063.
For better part of session, both indices traded in the positive territory tracking mostly higher Asian peers as investors hoped that Western sanctions on Russia near Ukraine border might soften Vladimir Putin defiant tone and leave some room to avoid war.
The Sensex breadth was equally divided between gains and losses. NTPC, L&T, Nestle, and ICICI Bank shares dropped the most on the index.
Kotak Bank (up 2.5 per cent) was the top Sensex gainer today, followed by Titan Company, IndusInd Bank, Maruti Suzuki, Wipro, and Infosys.
On the flipside, NTPC, L&T, Bajaj Finserv, Nestle India, ICICI Bank, HDFC Bank, HDFC, and RIL were the biggest laggards, sliding between 0.6 per cent and 1.4 per cent.
However, midcap and smallcap shares finished on a positive note as Nifty Midcap 100 index rose 0.64 per cent and small-cap shares gained 1.16 per cent.
Five of the 15 sector gauges, compiled by the National Stock Exchange, settled in the red. Nifty Financial Services and Nifty Auto underperformed the index by falling as much as 0.24 per cent and 0.21 per cent, respectively.
In the previous session on Tuesday, Sensex declined 383 points to close at 57,301; while Nifty had moved 114 points lower to end at 17,092.
Elsewhere in Asia, bourses closed mostly higher, hoping that war in Ukraine can be avoided after the US, Japan, and European powers imposed sanctions on Russia.
Stocks closed lower on Wall Street on Tuesday after Russia sent forces into Ukraine's eastern regions, escalating tensions.
Meanwhile, Brent crude futures were last steady at $96.74 a barrel, having eased off Tuesday’s top of $99.50, the PTI reported.
Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 3,245.52 crore on a net basis on Tuesday, exchange data said.
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