Indian market indices oon Wednesday ended their four-session winning streak and finished lower in choppy trading on negative global cues. Following a bad Wall Street session yesterday, Asian markets fell today as investor optimism was dampened by the U.S. consumer confidence data, which also increased concerns about a possible recession.
The 30-pack index closed at 53,027, down 150 points or 0.28 percent, on a downbeat global sentiment. In the meantime, the Nifty50 index decreased 51 points or 0.32 percent to settle at 15,799, down. The main laggards, with declines of up to 4.5 percent, were HDFC Life, HUL, Apollo Hospitals, Axis Bank, Tata Consumer Products, Bajaj Finserv, and UPL.
The BSE SmallCap index ended up slightly in the red in the overall markets, while the BSE MidCap index dropped 0.7%. With the exception of the Nifty Oil and Gas index, most of the indices fell in their respective sectors (up 0.9 per cent). The Nifty IT, Bank, and FMCG indices all decreased by more than 1%.
The major Nifty loser was HDFC Life, whose stock fell 4.67 percent to 539.50. Other losers were Hindustan Unilever, Apollo Hospitals, Axis Bank, and Tata Consumer Products. 1,518 shares on the BSE gained while 1,784 dropped, resulting in a negative total market breadth. Asian Paints, SBI, Infosys, HUL, Axis Bank, Bajaj Finserv, Wipro, HCL Tech, Titan, Kotak Mahindra Bank, and ICICI Bank were among the biggest losers on the 30-share BSE index.
Cipla to invest Rs26-Cr in GoApptiv to raise additional stakes
FOREX-Dollar supported by its safe-haven status over recession risks