Share Market Today: Sensex Tanks 846 Points; Nifty Sinks Below 24200. M&M Skids 6 Per Cent

Share market today: On the 30-share Sensex platform, M&M declined 6.47 per cent, followed by Tata Steel, SBI, HCL, Tata Motors

Share Market Today: In the broader markets, Nifty Smallcap jumped 0.05 per cent while Midcap was trading 0.09 per cent higher.

Source : ABPLIVE_AI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday plunged sharply amid mixed global trends. At 10.45 am, the BSE Sensex tanked 846 points to 79,506. On the other hand, the NSE Nifty50 was trading at 24,174, declining 259 points.

Stock update

On the 30-share Sensex platform, M&M declined 6.47 per cent, followed by Tata Steel, SBI, HCL, Tata Motors. On the flip side, Maruti, Airtel, HUL, Asian Paints, Axis Bank, and Bajaj Finance emerged gainers.

In the broader markets, Nifty Smallcap jumped 0.05 per cent while Midcap was trading 0.09 per cent higher.

Sectoral update

Sectorally, all were trading in the negative zone. Nifty Auto was the worst sectoral performer as it dropping over 2 per cent as M&M, Tata Motors, and Bajaj Auto stocks are trading in the red. Nifty Media fell 2.34 per cent. 

In the previous session on Tuesday, the BSE Sensex closed at 80,352, up 391 points while the NSE Nifty50 index ended at 24,433, up 113 points.

Global update

In Asian markets, Seoul, Tokyo, and Shanghai were quoting lower, while Hong Kong traded higher. US markets ended on a mixed note on Tuesday.

Global oil benchmark Brent crude declined 0.24 per cent to $84.46 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 314.46 crore on Tuesday, according to exchange data.

Rupee trades flat

The rupee traded flat at 83.49 against the US currency in the early session on Wednesday amid losses in domestic equities and easing crude oil prices.

At the interbank foreign exchange market, the rupee opened flat at 83.49 against the US dollar. The local currency moved in a restricted range of 83.49 to 83.50 against the greenback in early trade.

The rupee had edged up 1 paisa to close at 83.49 against the US dollar on Tuesday ahead of the key testimony of US Federal Reserve Chair Jerome Powell in front of Congress.