Closing Bells: Indian Benchmark Indices Close Wednesday Nearly Flat
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The Indian benchmark indices NSE Nifty 50 and S&P BSE Sensex have closed Wednesday nearly flat. The indices were volatile in the afternoon session on the backdrop of a poor show put up by the global cues on Wednesday. The indices closed Wednesday nearly unchanged, but in the red. The auto stocks were on the downward run today. 

The BSE Sensex breached the 38,200 levels before it settled under 38,000 points. On the other hand, the NSE Nifty 50 was on the verge of exceeding 11,250 levels. However, it fell before closing under the 11,150 levels. The indices have fallen despite the buzz around the candidate vaccine being developed by Oxford University to treat COVID-19 infection. 

The BSE Sensex closed the day at 37,871.52 points. It was reduced by 0.16% or 58.81 points at the end of Wednesday’s closing hours. Eighteen of the thirty Sensex stocks closed in the red while ten stocks ended in the positive terrain whereas two stocks wrapped up the day nearly flat. 

Also Read: Indian Benchmark Indices Close the Week on a Strong Note

Ultratech Cement and HDFC ended the Wednesday gaining a meagre 0.03% and -0.04% respectively. Hero MotorCorp, Hindustan Unilever, and Tata Steel dropped 3.47%, 3.06%, and 2.51% respectively. The index received much-needed support from Axis Bank, and it gained a massive 7.36%. It was followed by Titan Company, whose share price advanced by 4.22%. 

The NSE Nifty 50 tanked 0.27% or 29.65 points to close the day at 11,132.60 points. Among the fifty stocks that constitute the Nifty index, only eighteen of them surged while the remaining thirty-two of them collapsed. Amidst the fall in the Indian benchmark indices, India VIX, the volatility gauge, zoomed by 1.87% or 0.46 points to close at 24.88 points. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in

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