Stock Market: Sensex Sinks 152 Points, Nifty Holds 18,150 Amid Volatility. PSBs Rise 4 Per Cent

Stock update: PowerGrid was the biggest loser, slipping 4.06 per cent, followed by Tech Mahindra, Sun Pharma, Bajaj Finserv, NTPC, and M&M on the Sensex platform

Sensex and Nifty, the two key equity benchmarks gave up early gains to close in the red on Wednesday after a selloff in power, metal, and consumer durable stocks amid a weak trend in global equities. However, a rally in the rupee against the US dollar and unabated foreign capital inflows helped the indices restrict the losses, traders said.

In a largely range-bound session, the BSE Sensex ended 152 points (0.25 per cent) lower at 61,033. The index witnessed high volatility towards the fag-end and recorded an intra-day high of 61,447 and a low of 60,905. On the other hand, the broader NSE Nifty fell 46 points (0.25 per cent) to end at 18,157.

On the 30-share Sensex platform, PowerGrid was the biggest loser, slipping 4.06 per cent, followed by Tech Mahindra, Sun Pharma, Bajaj Finserv, NTPC, and M&M. On the flip side, ITC, Dr Reddy's, Kotak Mahindra Bank, IndusInd Bank, and HCL Tech were among the gainers, climbing up to 1.99 per cent.

In the broader markets, the BSE MidCap, and the BSE SmallCap indices slipped 0.5 per cent, and 0.3 per cent, respectively.

Sectorwise, all indices, barring banking stocks, all were in the red. The Nifty PSU Bank index surged nearly 4 per cent, while the Nifty Bank added 0.25 per cent. The Nifty Realty index was the worst hit, down 1.4 per cent.

In the previous session on Monday, Sensex ended 235 points (0.39 per cent) higher at 61,185. The NSE Nifty rose by 86 points (0.47 per cent) to end at 18,203 points. Domestic equity markets were closed on Tuesday on account of Gurunanak Jayanti.

Elsewhere in Asia, bourses in Shanghai, Tokyo and Hong Kong closed in the red, while Seoul logged gains. Stock exchanges in Europe too were trading with losses in mid-session deals.

International oil benchmark Brent crude was trading 0.67 per cent lower at $94.72 per barrel.

Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Monday, as they bought shares worth Rs 1,948.51 crore, as per exchange data.

Meanwhile, the rupee appreciated by 45 paise to close at 81.47 (provisional) against the US dollar on Wednesday amid fall in crude oil prices, dollar weakness and sustained foreign fund inflows.