The Indian benchmark indices NSE Nifty 50 and S&P BSE Sensex closed Wednesday on a flat note, but a slight bias towards the bears. Indices managed to recover significantly from their day’s low but failed to close the day in the favourable terrain. The blue-chip stocks led to the recovery of the cues.
The S&P BSE Sensex closed the day at 37,668.42 points. It dropped by 0.17% or 65.66 points. Only twelve of the thirty stocks that constitute the index managed to close in the green while the remaining eighteen stocks folded in the red. The losses in the index were led by Bharti Airtel and Tata Steel, whose share price fell by 7.89% and 3.46% respectively.
The financial sector had a mixed day as some stocks advanced while a few dropped. The share price of IndusInd Bank, Bajaj Finance, SBI, ICICI Bank, HDFC and Bajaj FinServ collapsed by 3.10%, 1.86%, 1.26%, 0.79%, 0.51%, and 0.49% respectively. The share price of Kotak Bank, HDFC Bank, and Axis Bank surged by 0.29%, 1.11%, and 1.82% respectively.
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Axis Bank emerged as the top gainer in the index. Hind Unilever and Infosys whose followed it share price shot up by 1.27% and 1.24% respectively, while RIL advanced by 1.11%. The share price of Maruti Suzuki and Bajaj Auto jumped by 1.07% and 0.01% respectively.
The NSE Nifty 50 closed Wednesday at 11,131.85 levels. It gave up 0.20% or 21.80 points over the day. Nineteen of the fifty Nifty stocks closed in the positive territory while the rest ended the day lower. Infratel turned out to be the most significant loser as its share price witnessed a fall of 8.26%. India VIX, the volatility gauge closed at 20.99 points. It was reduced by 1.96% or 0.42 points.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
