Stock Market: Sensex Falls 100 Points, Nifty Around 19,350 Tracking Volatility. Financials, Realty Dip
Stock update: On the 30-share Sensex platform, HDFC twins, Wipro, Bajaj Finserv, Infosys, Axis Bank were among the early losers
The two key equity benchmarks, Sensex and Nifty, on Wednesday were trading lower tracking weakness in Asian cues amid volatility. The two indices, which opened flat, turned red in early trading hours. At 9.55 am, the BSE Sensex dropped 96 points to 65,383. On the other hand, the NSE Nifty was trading at 19,378, down 11 points.
On the 30-share Sensex platform, HDFC twins, Wipro, Bajaj Finserv, Infosys, Axis Bank were among the early losers. On the flipside, IndusInd Bank, ICICI Bank, Asian Paint, Maruti, L&T, and PowerGrid emerged gainers. Among stocks, Strides Pharma lost 5 per cent after its biologics arm Stelis Biopharma inked a pact to sell its the multi-modal facility at Bengaluru for Rs 702 crore to Syngene.
In the broader markets, the BSE Midcap and Smallcap indices rose up to 0.4 per cent.
Sectorwise, Nifty Financials and Realty indices declined 0.2-0.6 per cent, while others held tepid gains.
In the previous session on Tuesday, the S&P BSE Sensex settled 274 points higher at 65,479, while the NSE Nifty50 closed 66 points up at 19,389.
"The market has already run-up sharply to record highs in the last few sessions on the back of strong FII inflows. Investors will be eyeing the US Federal Open Market Committee (FOMC) minutes to be released later today," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading lower. US markets were shut on Tuesday.
Global oil benchmark Brent crude dipped 0.59 per cent to $75.80 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,134.33 crore on Tuesday, according to exchange data.
Meanwhile, the rupee depreciated 7 paise to 82.08 against the US dollar in early trade on Wednesday, weighed down by strength of the American currency in the overseas market amid an increased demand for the dollar from importers. Sustained foreign fund inflows supported the local unit and contained the fall.
At the interbank foreign exchange, the domestic unit opened at 82.05, then fell to 82.08, registering a decline of 7 paise over its last close. On Tuesday, the rupee had settled at 82.01 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08 per cent to 103.12.
Top Headlines
