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Sensex falls 257 points; Nifty ends below 17,850; Sun Pharma, IndusInd Bank, Bharti Airtel top losers

Sensex falls 257 points; Nifty ends below 17,850; Sun Pharma, IndusInd Bank, Bharti Airtel top losers

Sensex ended 257.14 points or 0.43 per cent lower at 59,771.92. Nifty fell 59.75 points or 0.33 per cent to 17,829.20.

 L&T, Asian Paints, UltraTech Cement, SBI and Bajaj Finance were among the top Sensex gainers, rising up to 4.19%. L&T, Asian Paints, UltraTech Cement, SBI and Bajaj Finance were among the top Sensex gainers, rising up to 4.19%.

Benchmark indices ended Samvat 2077 on a weak note on Wednesday, tracking losses in market heavyweights such as HDFC Bank, ICICI Bank and Kotak Bank amid a negative trend in global markets. However, Sensex has gained 37.5% and Nifty has risen 40% in Samvat 2077. 

Sensex ended 257.14 points or 0.43 per cent lower at 59,771.92. Nifty fell 59.75 points or 0.33 per cent to 17,829.20. Sun Pharma was the top Sensex loser, falling 3.06 per cent, followed by IndusInd Bank, Bharti Airtel, Kotak Bank, ICICI Bank and HDFC Bank.

L&T, Asian Paints, UltraTech Cement, SBI and Bajaj Finance were among the top Sensex gainers, rising up to 4.19%.

Of 30 Sensex stocks, 17 ended lower. Market cap of the BSE-listed firms fell to Rs 263.07 lakh crore today. On Tuesday , the market cap stood at Rs 263.35 lakh crore.

BSE mid-cap and small-cap indices fell 57 points and 93 points, respectively.

On the sectoral front, capital goods stocks led the gains today. BSE capital goods index zoomed 609 points to 27,828. Banking and consumer durables stocks were the major losers with the BSE bankex falling 398 points and consumer durables index slipping 477 points.

The market breadth was negative with 1,585 shares ending higher against 1,657 stocks closing in the red. 159 shares were unchanged.

"After a sideways movement post its positive opening, the indices took a downturn as major global indices traded weak ahead of the US Fed policy announcement, said Vinod Nair, Head of Research at Geojit Financial Services.

The Fed is expected to announce the tapering of its asset purchase program in the near-term while any hint on interest rate reversal is keeping investors on the edge. Any indications showing a faster rate of tapering will have a negative effect on the equity market. Or else, we can expect a reversal from this weak trend, he noted.

Indian market has ended lower for the second straight session. On Tuesday, Sensex closed 109.40 points or 0.18 per cent lower at 60,029.06 and Nifty lost 40.70 points or 0.23 per cent to 17,888.95.

Meanwhile, rupee ended 22 paise higher at 74.46 against the US dollar on the back of easing crude oil prices and foreign fund flows into domestic IPOs. Besides, a weak American currency in the overseas market also helped the local unit, forex dealers said.

At the interbank forex market, the rupee opened strong at 74.64 against the greenback and moved in a range of 74.46 to 74.64 in the day trade.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended with losses, while Tokyo was closed. Stock exchanges in Europe were also trading on a negative note in mid-session deals. Meanwhile, international oil benchmark Brent crude fell 1.66 per cent to $83.31 per barrel.

Published on: Nov 03, 2021, 5:08 PM IST
Posted by: Aseem Thapliyal, Nov 03, 2021, 4:45 PM IST