Share Market Today: Sensex Drops 200 Points; Nifty Below 22,200 Amid Volatility

Share Market Today: On the 30-share Sensex platform, JSW Steel, Sun Pharma, Asian Paints, HDFC Bank, HUL, Maruti emerged losers. Tata Steel, NTPC, PowerGrid, Airtel, SBI, ITC were among the gainers

Share Market Today: In the broader markets, the BSE Midcap, and Smallcap indices advanced nearly 1 per cent each.

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Share Market Today: The two key equity benchmarks, Sensex and Nifty, on Wednesday pared early gains and turned flat amid volatility. At 10.10 am, the BSE Sensex dropped 207 points to 72,897. On the other hand, the NSE Nifty was trading at 22,186, down 32 points.

Stock update

On the 30-share Sensex platform, JSW Steel, Sun Pharma, Asian Paints, HDFC Bank, HUL, Maruti emerged losers. On the flip side, Tata Steel, NTPC, PowerGrid, Airtel, SBI, ITC were among the gainers.

In the broader markets, the BSE Midcap, and Smallcap indices advanced nearly 1 per cent each.

Sectoral update

Sectorwise, Nifty Realty Index takes the lead in gains, climbing 2 per cent, trailed by Nifty PSU Bank and Nifty Metal, both up by 1.8 per cent and 1.4 per cent, respectively.

In the previous session on Tuesday, the S&P BSE Sensex ended 328 points higher at 73,105, while the NSE Nifty50 settled at 22,218, up 114 points.

Global market update

In Asian markets, Tokyo traded in the positive territory while Shanghai quoted lower. Wall Street ended with gains on Tuesday.

Global oil benchmark Brent crude climbed 0.72 per cent to USD 82.96 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,065.52 crore on Tuesday, according to exchange data.

Rupee rises 4 paise

Meanwhile, the rupee was trading in a narrow range and appreciated 4 paise to 83.47 against the US dollar in early trade on Wednesday, tracking a positive trend in domestic equities.

However, sustained foreign fund outflows weighed on the local unit and restricted the up move.

Forex traders said with foreign investors buying US dollars and the Reserve Bank of India (RBI) selling the greenback, the USD/INR pair is expected to remain range-bound with a bit of a weakness bias.

At the interbank foreign exchange market the local unit moved in a narrow range. It opened at 83.49 against the American currency and touched 83.47 in initial trade, registering a rise of 4 paise from its previous close. On Tuesday, the rupee closed at 83.51 against the American currency.