Closing Bell! Share market end negative for 2nd day in row; Sensex down 450 pts, Nifty below 18300

The Indian markets closed negative for the second straight session on Wednesday as selling pressure, supposedly, continues from both foreign and domestic investors. Sensex down over 450 points and Nifty below 18300-level at the market close; metal stocks dragged the most, followed by auto.

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The BSE Sensex declined 456 points or 0.74 per cent at 61,259.96; while Nifty50 tumbled 136 points or 0.74 per cent to 18,282.3. Even the mid-cap index followed the benchmark’s suite down 632.5 points or 1.97 per cent to 31,478.3 level at the market close today.           

Nifty Bank closed marginally negative down by 22 points or 0.06 per cent to 39518.2 level, aiding the weakness in the Nifty50. HDFC Bank and Kotak Bank dragged the banking index most at the close.

As many as 11 stocks advanced and 39 declined on the Nifty50 index at the market close today. Hindalco slumped most by near 4 per cent, followed by Titan and BPCL each down over 2.5 per cent. While, HUL, ONGC, UPL, Bajaj Finserv, IOC, Coal India, NTPC and Power Grid slipped between 2-3 per cent.

On the other hand, Bharti Airtel shares gained most of all, up almost 4% at the close, followed by SBI up over 2.5 per cent and Tata Motors surged almost 2 per cent. While, stocks such as IndusInd Bank, Adani Ports, and Bajaj Finance surged between 0.5-1 per cent at the market close on Wednesday.

Sectorally, all indices witnessed weakness with Nifty Metal declined most by over 2 per cent followed by Nifty Auto and FMCG each down by over 1 per cent at the market close, whereas media and public bank indices closed positive in an otherwise overall negative market.