Sensex, Nifty Extend Losing Run: Market Wrap
The BSE Sensex closed down by 0.34% at 62,410.68. The Nifty 50 ended the day 0.44% lower at 18,560.50.
The Indian benchmark indices closed lower during trading hours on Wednesday, after the RBI Monetary Policy Committee's decision to hike interest rates by 35 basis points to 6.25%.
The BSE Sensex closed 215 points lower, down 0.34%, at 62,410.68. The Nifty 50 ended the day 82 points lower, down 0.44%, at 18,560.50.
After closing flat on Monday and lower on Tuesday, the benchmarks extended their losses on Wednesday.
Among the NSE Nifty 50 stocks, only 11 advanced, while 39 declined.
SBI Life Insurance Co., NTPC Ltd., Bajaj Finserv Ltd., Tata Motors Ltd. and Bajaj Auto Ltd. were the top laggards in the NSE Nifty 50 gauge.
On the other hand, Hindustan Unilever Ltd., BPCL Ltd., Asian Paints Ltd., Larsen and Toubro Ltd. and Axis Bank Ltd. were the top gainers on the index.
The broader indices underperformed their larger peers, with the mid-cap and small-cap gauge losing 0.41% and 0.44%, respectively.
Sixteen of the 20 sectoral indices compiled by BSE Ltd. declined, with BSE Utilities and Realty declining the most, at over 1%.
The market breadth is skewed in favour of bears. About 1,523 stocks rose, 1,980 fell and 138 stocks remained unchanged.