Shares of IndusInd Bank Ltd. and Tata Motors Ltd. were the top gainers on Wednesday, while IT stocks led by Infosys Ltd. and Wipro Ltd. fared the worst on the Nifty.
The NSE Nifty 50 ended 0.12%, or 27.40 points down at 22,470.5, while the BSE Sensex closed 0.1%, or 72.56 points lower at 74,029.76.
Battered for five consecutive days, IndusInd Bank stock managed to claw back, as investors bought shares after a 33% drop over the past week. Trading volume surged to 19 times its 30-day average.
Tata Motors closed 3.1% higher. Reuters reported Jaguar Land Rover has shelved plans to build electric vehicles at the parent company's plant in India.
Kotak Mahindra Bank Ltd. and Bajaj Finance Ltd. shares also ended higher.
Shares of Infosys fell about 5.5% intraday, amid a broader downturn in IT stocks over recession fears in the US economy, due to President Donald Trump's tariff implementation. It closed over 4% higher and was the top dragger on the Nifty 50.
The Nifty IT fell into bear market territory, with the index falling 21.67% from the record high it made in December. Wipro sunk 3.4%, followed by 2.8% drop in Tech Mahindra Ltd.
Overall, Nifty companies shed Rs 48,700 crore from their market capitalisation. Thirty stocks advanced, while 20 declined.
In terms of points contribution to the Nifty, HDFC Bank Ltd. and Kotak Mahindra Bank added the most, while Infosys and Tata Consultancy Services Ltd. weighed on the benchmark.
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