Finance
Share Market Today: The Sensex and Nifty, two main market benchmark indices, finished down on Wednesday due to volatility. The BSE Sensex fell 139 points, closing at 80,081. On the other hand, the NSE Nifty50 lost 37 points to 24,435.
Stock update
On the 30-share Sensex platform, M&M, Sun Pharma, PowerGrid, NTPC, Adani Ports, and L&T all lost money. On the other hand, Bajaj Finance, TechM, HCLTech, TCS, HDFC Bank, and Infosys were among the winners.
In the broader market, the Nifty Smallcap 100 and Nifty Midcap 100 rose 1.25 percent and 0.64 percent, respectively.
Sectoral update
Among the sectors, the IT index rose by over 2 per cent, while capital goods, power, and pharma each declined by 1 per cent.
In the previous session on Tuesday, the BSE Sensex plunged 930 points to 80,220, while the NSE Nifty 50 settled at 24,472, down 309 points.
“Investor mindset turned gloomy with the tepid earnings and a knee jerk reaction from FIIs, which dragged the market sentiment. However, mid and smallcaps are experiencing bargain hunting following the recent decline, though the sustainability of this momentum-driven buying remains uncertain. The US 10-year yield inched higher, signalling a slower tempo of rate cuts by the FED, which is poised for a risk-off sentiment towards EMs,” said Vinod Nair, Head of Research, Geojit Financial Services.
Global update
In Asian markets, Seoul, Shanghai, and Hong Kong closed higher, while Tokyo closed lower. The European markets were trading on a mixed note. The US markets closed flat on Tuesday.
Global oil benchmark Brent crude fell 0.97 percent to $75.30 a barrel.
