The Indian benchmark indices have closed Wednesday on a weak note as futures and options (F&O) contracts are due to expire tomorrow. Subdued global indices and rise in the number of COVID-19 infections across the world has only added to the concerns and made the market sentiment go down.
The S&P BSE Sensex toppled 1.58% or 561 points to close Wednesday at 34,868.98 points. The fall in the index was led by the shares of IndusInd Bank, ICICI Bank, and Power Grid who fell 7.43%, 7.35%, and 4.79% respectively. Among the 30 stocks in Sensex, 24 dropped while the remaining six gained.
The shares of Asian Paints, ITC Ltd, Nestle India, Tech Mahindra, Reliance Industries, and Tata Consultancy Services advanced and provided the Sensex index with the much-needed support. Mahindra & Mahindra almost ended the day on a flat note; it lost about 0.1%.
Also Read: The Indian Benchmark Indices Close Friday Over 1.5% Higher
Coming to the broader markets, the BSE MidCap index lost 1.08% or 143.04 points to end the day at 13,140.43 levels. It recorded its intraday high at 13,459.08 points. The BSE SmallCap index collapsed 1.24% or 157.41 points to end Wednesday at 12,510.77 points. It fell 290.34 points from its intraday high of 12,801.11 points.
The NSE Nifty 50 closed the below the 10,350 levels. It shed 1.58% or 166 points to wrap up at 10,305.50 points. Only 11 of the 50 Nifty stocks ended the day in the green while the remaining 39 marked the end of Wednesday in the red. Among the Nifty stocks, Asian Paints gained the most (3.81%), while ICICI Bank lost the most (-7.13%).
Sectoral indices on the National Stock Exchange (NSE) were gripped by a bearish trend with Nifty FMCG being the only exception. The NSE Nifty Bank slid 3.76% or 838 points to close the day at 21,426.80 points. The NSE Nifty Private Bank closed Wednesday at 11,739.45 levels, losing 4%. On the other hand, the NSE Nifty FMCG shot up 0.5% to end the day at 29,487.40 points.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
