Stock Market Today: Sensex Erases Early Morning Gains To Settle 118 Points Lower, Nifty Down to 22,200

Bharti Airtel, Power Grid, NTPC, Mahindra & Mahindra, Larsen & Toubro and HCL Technologies were among the major gainers.
Stock Market Today: Sensex Erases Early Morning Gains To Settle 118 Points Lower, Nifty Down to 22,200

Stock Market Today: Sensex Erases Early Morning Gains To Settle 118 Points Lower, Nifty Down to 22,200

Photo : PTI
Equity benchmark indices Sensex and Nifty ended lower on Wednesday after three days of rally, dragged down by selling pressure in HDFC Bank and unabated foreign fund outflows. Halting its three-day rally, the 30-share BSE Sensex declined 117.58 points or 0.16 per cent to settle at 72,987.03. During the day, it lost 281.95 points or 0.38 per cent to 72,822.66. The NSE Nifty dipped 17.30 points or 0.08 per cent to 22,200.55.
From the Sensex pack, Tata Motors, Asian Paints, HDFC Bank, JSW Steel, Hindustan Unilever, Nestle and Titan were the major laggards. In contrast, Bharti Airtel, Power Grid, NTPC, Mahindra & Mahindra, Larsen & Toubro and HCL Technologies were among the major gainers.
Vinod Nair, Head of Research, Geojit Financial Services, said "The market witnessed a sideways movement throughout the day as the emotions of investors were impacted by the election-led jitters. FIIs continued to remain in the selling mode; however, domestic investors were largely concentrated on stock-specific picks. The positive results from the capital goods sector and robust growth outlook gained investors’ attention and led the segment to outperform. A drop in US 10yr yield ahead of the release of sensitive CPI data from the US will be watched carefully by the market to gain insights on rates."
In Asian markets, Tokyo settled in the positive territory while Shanghai ended lower. Markets in South Korea and Hong Kong were closed for a holiday. European markets were trading mostly higher. Wall Street ended with gains on Tuesday. Global oil benchmark Brent crude climbed 0.21 per cent to USD 82.55 a barrel.
(PTI Inputs)
End of Article
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