Stock Market: Sensex Closes 284 Points Lower; Nifty Slips Below 19,000. Asian Paints Sheds 2 Per Cent

Stock update: On the 30-share Sensex platform, Asian Paints, Tata Steel, Nestle, Maruti, JSW Steel, HCL emerged prime losers. Sun Pharma, Bajaj Finserv, Reliance, SBI, and Airtel were the gainers

In the broader market, the BSE midcap index lost 0.4 per cent, while Smallcap index ended on a flat note. ( Image Source :Getty )

The two key equity benchmarks, Sensex and Nifty, closed in the red on Wednesday, dragged by persistent selling pressure in metal and select IT stocks. The S&P BSE Sensex, which touched a low of 63,550, declined 284 points to 63,591. On the other hand, the NSE Nifty 50 fell below the 19,000-mark and finished at 18,989, down 90 points.

On the 30-share Sensex platform, Asian Paints, Tata Steel, Nestle, Maruti, JSW Steel, HCL emerged prime losers. On the flip side, Sun Pharma, Bajaj Finserv, Reliance, SBI, and Airtel were the gainers. Among specific stock, debutant Blue Jet Healthcare closed with a strong 14.4 per cent gain at Rs 396, with only buyers at the counter on the BSE.

#ABPLiveStockMarketWatch | Sensex and Nifty closed in the red on Wednesday

At 04:00 PM, #Sensex dipped 284 points to 63,591 & #Nifty dropped 90 points to close at 19,899

Here's a look at the stocks in focus:#ABPLive #ClosingBell #MarketWatch pic.twitter.com/bl6oKGYPgh

— ABP LIVE (@abplive) November 1, 2023

In the broader market, the BSE midcap index lost 0.4 per cent, while Smallcap index ended on a flat note.

Sectorally, auto, capital goods, metal, Information Technology, and power fell 0.5-1.5 per cent each. hHealthcare, oil & gas, and realty ended in the positive zone. 

In the previous session on Tuesday, the S&P BSE Sensex closed 238 points lower at 63,875, while the NSE Nifty50 closed at 19,080, down 61 points.

"The domestic indices were responding to the global signals ahead of the Fed's monetary policy decision later in the day, while the global market was also assimilating to the mixed bag of US corporate earnings reports. Markets anticipate a status quo in the Fed policy, however, sustenance of the high rate for a prolonged period is the issue," said Vinod Nair, Head of Research at Geojit Financial Services.

I Asian, Seoul, Tokyo, and Shanghai closed in the green zone, while Hong Kong settled in the red. European markets were trading on a mixed note and the US markets ended in positive territory on Tuesday.

Global oil benchmark Brent crude jumped 1.31 per cent to $86.13 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 696.02 crore on Tuesday, according to exchange data.

Meanwhile, India rupee declined 9 paise to close at an all-time low of 83.33 (provisional) against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and unabated foreign capital outflows. The local currency finally settled at its lifetime low of 83.33 (provisional), lower by 9 paise against its previous close.