The Indian benchmark indices closed the day nearly flat. The widely followed cues managed to do well towards the end of Wednesday’s trading hours to erase the losses they had suffered in the early parts of the day. The downfall of the financial indices ensured that the Sensex ended the day lower.
The S&P BSE Sensex closed Wednesday at 44,618.04 points. The index fell by 0.084% or 37.40 points over the day. Only eight of the thirty stocks of the Sensex closed in the red while the remaining twenty-two of them wrapped up the day in the positive terrain. Kotak Bank emerged as the top loser with its share price, closing the day 3.28% down.
HDFC twins followed it. HDFC Bank and HDFC witnessed their share price going down by 1.86% and 1.28% respectively. The share price of ICICI Bank, Bajaj Finance and SBI dropped by 0.99%, 0.72% and 0.50% respectively. Nestle India and L&T are the other stocks that closed lower, their share price reduced by 0.87% and 0.16% respectively.
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ONGC and Asian Paints drove the recovery of the index. Their share price surged by 4.11% and 3.74% respectively. Titian and Tata Steel followed them as their share price moved ahead by 3.48% and 3.19% respectively. Indian majors RIL, Infosys, and TCS, witnessed a gain of 0.17%, 0.33%, and 0.81% respectively.
The NSE Nifty 50 closed Wednesday in the green. It gained 0.036% and 4.70 points to fold the day at 13,113.75 points. As many as thirty-seven of the fifty stocks that form the Nifty index closed the day higher, while the remaining thirteen stocks closed in the negative terrain.
Kotak Bank and HDFC Bank lost the most among the Nifty stocks. Their share price went down by 3.35% and 1.95% respectively. The state-owned ONGC and GAIL were the most significant gainer in the index with their share price increasing by 4.88% and 3.80% respectively.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
