Sensex, Nifty End Lower For Fourth Straight Day; Banks, I.T. Stocks Slide: Market Wrap
The Sensex closed 338 points, or 0.58%, lower at 57,900.19, while the Nifty 50 ended 111 points, or 0.65%, lower at 17,043.30.
India's benchmark stock indices ended lower for the fourth straight day after a volatile session on Tuesday, led by losses in bank and I.T. stocks.
The headline indices ended at their lowest levels since October 2022, with the NSE Nifty 50 declining the most since Oct. 13 and the S&P BSE Sensex closing at the lowest since Oct. 13.
The S&P BSE Sensex closed 338 points, or 0.58%, lower at 57,900.19, while the NSE Nifty 50 ended 111 points, or 0.65%, lower at 17,043.30.
TCS Ltd., Infosys Ltd., Kotak Mahindra Bank Ltd., Adani Enterprises Ltd., and ITC Ltd. were negatively contributing to the NSE Nifty 50.
BPC Ltd., Titan Co., Larsen and Toubro Ltd., Bharti Airtel Ltd., and ICICI Bank Ltd. were added to the index.
All Adani Group company stocks ended lower in trade, with Adani Enterprises Ltd. declining 7.27%.
The broader market indices were trading lower; S&P BSE MidCap was down 0.46%, while S&P BSE SmallCap was down 0.84%.
All 19 sectors compiled by BSE Ltd. declined, while S&P BSE Capital Goods advanced in trade.
The market's breadth was skewed in favour of sellers. About 1,188 stocks rose, 2,336 declined, and 106 remained unchanged on the BSE.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.