Indian Benchmark Indices Close Wednesday Over 0.85% Lower

The Indian markets have closed Wednesday in the adverse terrain. The losses in the indices are attributed to the investors booking their profits due to the rallying of markets over the last few days. Notably, significant players such as RIL and IT companies witnessed a flurry of tremendous pressure. 

The S&P BSE Sensex closed Wednesday at 38,071.13 points. It tanked 1.10% or 421.82 points. Among the 30 stocks that form the Sensex index, 18 of them collapsed while one remained unchanged, and the remaining 11 stocks provided the much-needed support to the index.

The losses in the Sensex index were led by Reliance Industries Limited (RIL) and Nestle India, whose share price fell by 3.75%, 3.02%. The technology stocks of HCL Tech, TCS, and Infosys collapsed by 2.66%, 1.48%, and 0.92% respectively. The share price of Power Grid remained unchanged at Rs 181 a share. 

Also Read: Indian Benchmark Indices Close Thursday Over 0.7% Higher

The share price of Tata Steel, Sun Pharma, Bajaj Finance, and UltraTech Cement Ltd shot up by 4.34%, 2.18%, 1.36%, and 1.18% respectively. Banking stocks were on the upwards run today as the share price of IndusInd Bank (top gainer), SBI, Axis Bank, and Kotak Bank expanded 4.54%, 0.92%, 0.88%, and 0.50% respectively. 

The NSE Nifty 50 closed the day 0.86% or 97.70 points lower. It ended at 11,202.85 points. Of the 50 stocks that constitute the Nifty index, only 22 ended in the positive territory, while the remaining 28 closed in the red. Reliance and M&M emerged as the top losers in the index as they dropped 3.94% and 2.68% respectively. 

Dr.Reddy’s gained the most in the index. It’s share price increased by a massive 6.28% over the day. India VIX, volatility gauge, plummeted by 1.73% or 0.44 points to close at the 25 levels. 

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