Share Market Today: Indices Settle In Red For Third Consecutive Session, Sensex Under 80,200

The broader markets also closed the session in red entirely. The Nifty Next 50 index plunged 1.30 per cent, while the Nifty Microcap 250 index slipped 0.98 per cent

The key equity benchmarks settled the trading session on Wednesday in red. The BSE Sensex plummeted more than 500 points to end trading at 80,182.20, while the NSE Nifty50 settled for the day under 24,200, registering a hit of more than 100 points.

This decline for the third consecutive market session was attributed to the investors sentiment as they continued to dump utility, capital goods, and metal stocks. Further, foreign fund outflows also dented the confidence in the market.

On the 30-share Sensex platform, Reliance, Sun Pharma, TCS, Tech M, and HCL Technologies emerged among the gainers for the day. On the other hand, the major laggards for the session included Tata Motors, PowerGrid, NTPC, JSW Steel, and Adani Ports. 

The broader markets also closed the session in red entirely. The Nifty Next 50 index plunged 1.30 per cent, while the Nifty Microcap 250 index slipped 0.98 per cent. 

Sector-wise, the Nifty Media index dominated in red and declined 2.24 per cent, followed by the PSU Bank index which fell 1.92 per cent.On the other hand, the Nifty Pharma index climbed 1.09 per cent.

In the last trading session on Tuesday, the key benchmark indices settled trading in red. The Sensex closed trading at 80,684.45, plunging more than 1000 points, while the Nifty50 settled for the day at 24,350, taking a hit of more than 300 points.

"The near-term market construct has turned weak, with FIIs turning sellers on rallies. Yesterday’s massive FII sell figure of Rs 6,410 crore in the cash market indicates that more selling is in store on market bounces. The focus of global markets today will be the Fed decision expected tonight. A 25 bps rate cut is priced in by the market. So, the attention will be on the Fed commentary," noted VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Foreign Institutional Investors (FIIs) dumped equities worth Rs 6,409.86 crore on Tuesday, exchange data revealed. The global oil benchmark Brent crude inched up by 0.48 per cent to touch $73.67 per barrel.