Stock market today (AI image)
Stock market today: Indian equity benchmarks, Nifty50 and Sensex, closed lower on Wednesday as investors booked profits amid weak global cues and cautious sentiment ahead of key macro triggers. The Nifty50 slipped 75 points, or 0.30 per cent, to close at 25,157.50, while the 30-share BSE Sensex declined 270.84 points, or 0.33 per cent, to settle at 81,909.63.Heavy selling in select banking, financial and auto stocks dragged the benchmark indices lower on Wednesday, even as gains in a handful of index heavyweights capped sharper losses.
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Among the Sensex pack, ICICI Bank, Trent, Bharat Electronics, Axis Bank, HDFC Bank, Larsen & Toubro, State Bank of India and Maruti emerged as the top laggards. On the other hand, Eternal, UltraTech Cement, InterGlobe Aviation and Reliance Industries provided some support to the market.Foreign institutional investors (FIIs) continued to pare exposure, offloading equities worth Rs 2,938.33 crore during the session, while domestic institutional investors (DIIs) stepped in with net purchases of Rs 3,665.69 crore, exchange data showed.“Indian equity markets ended the session on a cautious to negative note as mixed cues from Asian peers and sharp losses in overseas markets, along with continued weakness in the rupee, kept investor risk appetite subdued,” said Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm.
Asian markets presented a mixed picture. Japan’s Nikkei 225 closed lower, while South Korea’s Kospi, China’s SSE Composite, and Hong Kong’s Hang Seng ended the day in positive territory. European markets were trading in the red in mid-session deals.Overnight, Wall Street witnessed a sharp sell-off. The Nasdaq Composite slumped 2.39 per cent, the S&P 500 fell 2.06 per cent, while the Dow Jones Industrial Average dropped 1.76 per cent, adding to global risk aversion.“Domestic markets were gripped by volatility as global risk factors dampened sentiment. However, value buying towards the close helped the market recover some early losses. The weakening rupee and uncertainties surrounding trade ties may prolong this volatility,” said Vinod Nair, Head of Research at Geojit Investments Limited.Meanwhile, crude oil prices eased, with Brent crude, the global benchmark, slipping 1 per cent to USD 64.27 per barrel, offering limited relief to market sentiment.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India) |
