Stock Market: Sensex Slips 46 Points, Nifty Barely Holds 15,700 Amid High Volatility

Stock update: On the 30-share BSE platform, Bajaj Finserv was the top gainer, up 2.91 per cent, followed by Tata Steel, M&M, Bajaj Finance, Maruti, SBI, and others

In the broader markets, the BSE Midcap and Smallcap indices, however, sat in the positive territory, up to 0.5 per cent higher.

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The two key equity benchmarks, Sensex and Nifty, which started trade in the red on Wednesday, recouped some of the losses and rebounded tracking mixed global cues. Amid high volatility, the two domestic indices gave up gains and plunged in to the negative territory.

At 10.30 am, the BSE Sensex was marginally down 46 per cent to 52,647, while the broader NSE Nifty was trading at 15,709, down 22 points.

On the 30-share BSE platform, Bajaj Finserv was the top gainer, up 2.91 per cent, followed by Tata Steel, M&M, Bajaj Finance, Maruti, SBI, and others. On the flipside, HUL was the top loser, down 1.29 per cent, followed by NTPC, IndusInd Bank, Airtel, HDFC, Nestle, and others.

In the broader markets, the BSE Midcap and Smallcap indices, however, sat in the positive territory, up to 0.5 per cent higher.

Sectorwise, Nifty Media, Auto indices led gains, rising up to 1 per cent. Nifty IT, and pharma were other gainers. While Nifty metals shed a per cent. FMCG and oil & gas pockets were also subdued.  

In the previous trading on Tuesday, the 30-share BSE Sensex dipped 153 points (0.29 per cent) to settle at 52,693. During the day, it tumbled 387 points (0.73 per cent) to 52,459. On the other hand, the broader NSE Nifty declined by 42 points (0.27 per cent) to end at 15,732.

The Indian rupee opened on a flat note and inched higher by 5 paise to 77.99 against the US dollar in opening trade on Wednesday.

Forex traders said lacklustre domestic markets, elevated crude oil prices and persistent foreign capital outflows weighed on the local unit.

Global oil benchmark Brent crude futures rose 0.19 per cent to $121.40 per barrel.

Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 4,502.25 crore, according to exchange data.