After trading firm with over 0.75% gains in the afternoon trade, the Indian markets ended in the red on Wednesday amid profit taking and easing of tension between Russia and Ukraine. Domestic equity benchmarks Nifty50 and the Sensex ended 0.17% and 0.25% lower respectively on Wednesday. Broader Nifty50 gave up 17,400, while the Sensex slipped nearly 150 points to end at 17,322.20 and 57,996.68 respectively despite trading higher in most parts of the session.  

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In the broader market mid cap index too slipped in the red, while the small cap surged by 0.73% in the closing. Sectorally, realty, consumer durables, oil & gas were seen ending with some strength, while the majority of indices settled in the red. Banking and metal stocks were seen under tremendous pressure as indices slipped up to 1 per cent.  

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ICICI Bank, State Bank of India, NTPC, Ultratech Cement, Tata Steel, Bajaj Finance, L&T, Power Grid and Sun Pharma were among top losers on Wednesday.  

Divis Laboratories, ONGC, Adani Ports, HDFC Life, IOC, Bharti Airtel, Dr Reddy's, HDFC Limited, Kotak Bank, Wipro and Tech Mahindra were among gainers.  

"The market witnessed a volatile session in a range of 17300-17500. market research suggests, trading above the support zone of 17200 is positive from a short-term perspective. If the market sustains above the support levels, we expect a recovery in the market till the level of 17800. Technical indicators suggests, a volatile movement in the market in the range of 17200-17800. As such we retain our cautious stance and advise the traders to refrain from building a fresh buying position, until we see further decisive movement in the market," said Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research Limited.