Closing Bell: Auto, realty drag markets as Sensex drops 200 points, Nifty sheds over 60 points

In the 30-stock Sensex, 21 scrips declined against 9 advances. Source: IANS

Indian equity markets ended on a negative note on Wednesday, breaking a four-day gaining streak. The stock markets traded in a narrow range today after opening in the green only to take a U-turn, minutes later. BSE Sensex was down 215.26 points at 60,906.09 when markets closed while Nifty50 managed a closing above 18000. It settled at 18,082.85, losing 62.55 points or 0.34 per cent from the Tuesday closing.

The bears were on top today for entire trading session amid high volatility. India VIX - a gauge of volatility was up today by 3 per cent at 16.66.

In the 30-stock Sensex, 21 scrips declined against 9 advances. Sun Pharma, ITC and Tech Mahindra were the top gainers while Bharti Airtel, Maruti Suzuki and Hindustan Unilever were biggest losers on BSE.

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Meanwhile, in the 50-stock Nifty50, 15 shares gained against 35 losses. The top gainers were Hindalco Industries, Sun Pharma and ITC while the top losers were Bharti Airtel, Apollo Hospitals and Maruti.

Also Read: Stock Markets HIGHLIGHTS: Sensex, Nifty break 4-day winning streak amid profit booking ahead of US Fed rate announcements

Out of the 15 sectoral indices on NSE, 9 were in the red against six gainers. Nifty Realty and Nifty PSU Bank which were down by 0.80 per cent were the biggest laggards. It was followed by Nifty Auto. Nifty Media, metal and pharma were gainers. Nifty Bank closed at 41,146.65, down by 0.35 per cent or 142 points.

Selling pressure was seen in broader markets too as NIFTY MIDCAP 100 and Nifty Small Cap 100 ended at 31,680 and 9,696.15 respectively. However, the losses were capped.

In top developments, LIC Housing stock tanked after company posted disappointing September quarter results. In contrast, Karnataka Bank shares hit 20 per cent upper circuit on strong Jul-September 2022 results.

Also Read: LIC Housing Finance stock tanks over 10% on disappointing Q2 results: Buy, Sell or Hold? Check strategy and targets

In global markets, Dow 30 Futures were trading flat at 32,658.70, though with positive bias. SGX Nifty Futures were trading at 18,162.5, down by 92.5 points or 0.51 per cent.

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