Share Market Today: Sensex Sheds 398 Points; Nifty Below 25K. Tata Motors Falls 5.7%

Share Market Today: On the 30-share Sensex platform, Tata Motors became the prominent loser, dropping 5.74 per cent on the BSE. SBI, NTPC, Adani Ports, L&T, M&M were among the other losers

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Wednesday snapped their two-day winning run amid volatility, tracking tepid global cues. The BSE Sensex declined 398 points to close at 81,523. On the other hand, the NSE Nifty50 sank 123 points to settle at 24,918.

Stock update

On the 30-share Sensex platform, Tata Motors became the prominent loser, dropping 5.74 per cent on the BSE. SBI, NTPC, Adani Ports, L&T, M&M were among the other losers. On the flip side, Asian Paints, Bajaj Finance, HUL, Sun Pharma, Bajaj Finserv, ITC, and Airtel were the only gainers.

In the broader market, the Nifty Smallcap 100 index fell 0.81 per cent.

Sectoral update

Sectorally, Nifty Oil & Gas Index led the declines, dropping 2 per cent, followed by Nifty PSU Bank and Nifty Metal, down 1.8 per cent and 1.5 per cent, respectively. Nifty Auto and Realty both slipped 1.2 per cent. On the positive side, Nifty FMCG emerged as the top gainer, inching up 0.3 per cent.

In the previous session on Tuesday, the BSE benchmark jumped 362 points to closed at 81,921, while the NSE Nifty50 gained 105 points to 25,041.

Global update

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled lower. European markets were trading mostly in the green. The US markets ended mostly with gains on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,208.23 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude climbed 1.49 per cent to $70.22 a barrel.

Rupee ends flat

The rupee witnessed range-bound trade and settled for the day on a flat note at 83.98 (provisional) against US dollar on Wednesday as the support from the lower level of crude oil prices and soft US dollar was negated by a weak trend in domestic equities.

At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.97 against the American currency and touched an intraday high of 83.93 and a low of 83.98 against the American currency.

The rupee finally settled for the day at 83.98 (provisional) against the US dollar. On Tuesday, the rupee depreciated 3 paise to close at 83.98 against the American currency.