Stock Market: Sensex Ends 35 Points Lower, Nifty Holds 17,500 Amid High Volatility

Stock update: Bajaj Finance was the top loser in the Sensex pack, shedding 2.66 per cent, followed by NTPC, HCL Tech, Wipro, Asian Paints, Ultra Cement, and SBI on the BSE

Sensex and Nifty, the two key equity benchmarks, on Wednesday closed on a flat note after a highly volatile session as profit booking in IT and realty shares negated gains in metal and oil & gas stocks.

The BSE Sensex ended 35 points (0.06 per cent) lower at 58,817, while the broader NSE Nifty inched 9 points (0.06 per cent) higher at 17,534.

The market remained range-bound for the most part of the session as investors kept their exposure low due to weak global cues, traders said.

On the 30-share BSE platform, Bajaj Finance was the top loser in the Sensex pack, shedding 2.66 per cent, followed by NTPC, HCL Tech, Wipro, Asian Paints, Ultra Cement, and SBI. On the flip side, Tata Steel, Bharti Airtel, ICICI Bank, L&T, and IndusInd Bank were among the gainers.

In the broader markets, the BSE MidCap and SmallCap indices fell 0.15 per cent each on the back of losses in Natco Pharma, Oil India, MRF, YES Bank, Everest kanto Cylinders, Dynemic Products, and Sequent Scientific.

Among sectors, the Nifty IT index slipped 0.9 per cent, while the Nifty Metal index advanced 1.6 per cent.

In the previous session on Monday, the BSE index ended 465 points (0.80 per cent) up at 58,853 points. Likewise, the broader NSE Nifty had advanced 127 points (0.73 per cent) to 17,525 points. Equity markets were closed on Tuesday on account of Muharram.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo, and Seoul ended with significant losses. Equities in Europe were trading with mild gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude declined 1.05 per cent to $95.30 per barrel.

Foreign institutional investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 1,449.70 crore on Monday, as per exchange data.

On the other hand, the rupee appreciated 15 paise to close at 79.48 (provisional) against the US dollar on Wednesday. During the session, the local unit witnessed an intra-day high of 79.41 and a low of 79.59 against the American currency. In the previous session on Monday, the rupee had closed at 79.63 against the US dollar.