Stock Market Today: Nifty, Sensex Log Worst Fall In 14 Sessions
The Nifty closed at 22,703.95, down 184.20 points or 0.80% and the Sensex closed at 74,502.90, lower by 667.55 points or 0.89%. This is the worst fall for both the indices since May 9.
KEY HIGHLIGHTS
Rupee Closes Sharply Lower Against U.S. Dollar
-The local currency closed 17 paise lower against the U.S. Dollar at 83.35.
-It closed at 83.18 on Tuesday
Source: Cogencis
Nifty, Sensex Log Worst Fall In 14 Sessions: Closing Bell
Benchmark equity indices continued falling in the fourth consecutive day and recorded their biggest fall in 14 sessions on Wednesday.
The Nifty closed at 22,703.95, down 184.20 points or 0.80% and the Sensex closed at 74,502.90, lower by 667.55 points or 0.89%. This is the worst fall for both the indices since May 9.
"The Bears showed their presence with a steep fall in the opening trade itself. In the mid-session, minor recovery was seen but that was quickly fizzled out as another round of selling took place which dragged the Index below 22,700," said Aditya Gaggar, Director of Progressive Shares.
"On the daily chart, Nifty has breached its immediate support of 22,780 but considering the monthly expiry day tomorrow, we feel that a short covering move will bring the Index above the triangle pattern breakout point i.e. 22,780," he added.
Shares of HDFC Bank Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Axis Bank Ltd., and Infosys Ltd. dragged the Nifty.
Whereas those of Hindalco Industries Ltd., Power Grid Corp. Of India, ITC Ltd., Bajaj Auto Ltd., and Divi's Laboratories Ltd minimised the losses.
Most sectoral indices ended lower with Nifty Financial Services and Nifty Bank falling the most.
Broader markets ended on a mixed note on Wednesday. The S&P BSE Midcap fell 0.38% and the S&P BSE Smallcap rose 0.23%.
On BSE, 13 sectors declined, and seven advanced out of 20. The S&P BSE Bankex declined the most, and the S&P BSE Healthcare and Telecommunication were the leading sectors.
Market breadth was skewed in favour of sellers. Around 2,127 stocks declined, 1,693 stocks rose, and 109 remained unchanged.
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