Closing Bell! Share Market snaps two-day winning streak as Sensex, Nifty end negative – metal and IT stocks among biggest losers

The Indian markets on Wednesday snapped two-day record high closing and ended on a negative note, as the BSE Sensex slumped by over 200 points. Nifty50 maintained its 17000-mark. The decline in the benchmark Indices was mostly led by metal along with information and technology stocks today.   

The BSE Sensex declined around 215 points or 0.37 per cent to 57338.21, while Nifty50 tumbled over 55 points or 0.33 per cent to 17076.52 levels at the market close on Wednesday. While the mid-cap index which outperformed the benchmarks, closed at 212 points or 0.75 per cent higher to 28629.45. 

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While Nifty Bank helping the Nifty50 most from further decline, ended positive by almost 150 points or 0.41 per cent to 36,574.3 levels, mainly led by Axis Bank.          

Out of 50 scrips on Nifty50, 21 advanced, 29 declined at the market close on Wednesday. Asian Paints surged most in the trade today, by over 3 per cent, followed by Tata Motors up over 2.5 per cent, while SBI Life, Nestle India and Axis Bank each jumped over 1.5 per cent in today’s trade.

On the contrary, Mahindra and Mahindra slumped by almost 3 per cent, dragging the Nifty Index most, followed by Cipl and Tata Steel down 2.7 per cent, while Hindalco and Bajaj Finserv declined by over 2 per cent at the market close on Wednesday. 

Almost all the sectoral indices closed in the green, except for the Nifty Metal, IT, Financial Services and Pharma. Nifty Realty surged most in a weak market by over 5.5 per cent, followed by banking and financial shares, while Nifty Metal dipped near 2 per cent, and IT Index down over 1 per cent.