Share Market Today: Sensex Slides 203 Points; Nifty Halts 14-Day Rally On Weak Global Cues

Share market today: On the 30-share Sensex platform, M&M, Axis Bank, SBI, ICICI Bank, Infosys, L&T emerged losers. Asian Paints, HUL, UltraCemco, Sun Pharma, Reliance, HDFC Bank were among the gainers

Share Market Today: In the broader indices, the Nifty Smallcap index reached a record high during intra-day trading but pulled back to close flat.

Source : ABPLIVE AI

Share market today: The two key equity benchmark indices, Sensex and Nifty, on Wednesday closed in the red tracking negative global sentiments. The BSE Sensex shed 203 points to close at 82,353. On the other hand, the NSE Nifty50 halts 14-day rally, dropping 81 points to settle at 25,199.

Stock update

On the 30-share Sensex platform, M&M, Axis Bank, SBI, ICICI Bank, Infosys, L&T emerged losers. On the flip side, Asian Paints, HUL, UltraCemco, Sun Pharma, Reliance, HDFC Bank were among the gainers.

In the broader indices, the Nifty Smallcap index reached a record high during intra-day trading but pulled back to close flat.

Sectoral update

In sectoral performance, IT, PSU Bank, Auto, Financial Services, and Metal led the declines, with losses of up to 1.69 per cent. On the other hand, FMCG, Pharma, Media, Realty, and Healthcare managed to secure gains of up to 1.09 per cent. The Bank Nifty index ended its four-session winning streak, weighed down by losses in Federal Bank and Bank of Baroda. The Nifty IT index also fell for a second consecutive session, primarily due to Wipro's decline. Similarly, the Nifty PSU Bank index dropped for the second session, with Bank of India and Punjab & Sind Bank being the biggest losers in the sector.

In the previous session on Tuesday, the BSE Sensex dropped 4.40 points to end at 82,555, while the NSE Nifty50 got a slim gain of 1.15 points to settle at 25,280.

"The warning signals from weak US manufacturing data added concerns about a potential slowdown in the US economy, which dragged the domestic indices. Due to a lack of major domestic triggers, the indices will take direction based on global cues," said Vinod Nair, Head of Research, Geojit Financial Services.

Global update

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended sharply lower. European markets were also trading in the red. The US markets ended significantly lower on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,029.25 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude declined 0.14 per cent to $73.65 a barrel.