Sensex and Nifty snapped their two-session winning streak on Wednesday amid a negative trend in global markets. Sensex gave up the 50,000 mark and ended 290 points lower at 49,902. Nifty fell 78 points to 15,030.
On Tuesday, benchmark indices zoomed for the second consecutive session this week led by gains in consumer durables and auto stocks. Sensex rose 613 points to 50,193 and Nifty ended 185 points higher at 15,108.
Analysts attributed the fall in benchmark indices to profit-booking in today's trade.
Bajaj Finserv was the top loser in the Sensex pack, falling around 2 per cent, followed by HDFC, M&M, Bharti Airtel, UltraTech Cement and Kotak Bank. On the other hand, Sun Pharma, Nestle India, Tech Mahindra, Bajaj Auto and Axis Bank were among the gainers, rising up to 1.82%.
Of 30 Sensex stocks, 20 ended in the red. However, BSE mid cap and small cap indices rose 113 points and 81 points, respectively.
Banking, auto and metal stocks led the losses with their BSE indices slipping 273 points, 176 points and 162 points, respectively Healthcare shares capped the losses with the BSE healthcare index closing 295 points higher at 24,434.
Market cap of BSE-listed firms climbed to a fresh record high of Rs 216.50 lakh crore. Investor wealth rose by Rs 0.11 lakh crore.
Deepak Jasani, Head of Retail Research, HDFC Securities said," Nifty made a double top - the same as the previous day and later fell to enter the upgap area. Lower volume on May 19 suggests absence of enthusiasm on the part of traders at these levels especially in the face of the negative inflation and commodity price data and release of US Fed minutes. 14938-14967 will be the support for the Nifty while 15137 will act as a resistance."
Market breadth was positive with 1,794 stocks rising against 1,264 shares falling on BSE. 174 stocks were unchanged. On a year-to-date basis, Sensex has gained 4.51% and Nifty has risen 7.50%.
In one year, Sensex and Nifty have surged a huge 65.26% and 69.28%, respectively.
Meanwhile, rupee halted its three-day winning run falling 13 paise to close at 73.18 against the US dollar in line with the fall in the domestic equity market. At the interbank foreign exchange market, the domestic currency opened at 73.02 against the American currency, but pared gains later.
France's CAC 40 fell 0.9% in early trading to 6,296.63, while Germany's DAX plunged 1.2% to 15,207.22. Britain's FTSE 100 dropped 1.3% to 6,943.01. US shares were set to drift lower with Dow futures falling 0.7% to 33,770.0. S&P 500 futures were down 0.8% to 4,089.75.
Japan's benchmark Nikkei 225 fell 1.3% to finish at 28,044.45, as continuing worries about the latest surge in coronavirus cases, including variants, dampened investor sentiment. Australia's S&P/ASX 200 slipped 1.9% to 6,931.70. The Shanghai Composite slipped 0.5% to 3,510.96. Markets were closed in Hong Kong and South Korea.
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