Indian markets extended declines on Wednesday after a gap-up opening on Wednesday amid volatility. At around 01:30 pm, the BSE Sensex was down over 160 points or 0.27 per cent to 5816 levels, while Nifty50 slipped by around 38 points or 0.22 per cent to 17493 levels. Auto, financials dragged the market most, while metals reversed yesterday’s trend to gain around 1 per cent intraday.

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Of 50 scrips on Nifty, 26 advanced and 24 declined at around this time. Oil and Natural Gas Corporation (ONGC) gained most by nearly 3 per cent, followed by Apollo Hospital up over 2.5 per cent intraday. While UPL, JSW Steel, and Hindalco are up between 1-2 per cent intraday. 

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 Meanwhile, broader markets outperformed the benchmarks to be trading positive on an intraday basis. Midcap and small-cap were up around 0.2 and 0.5 per cent, respectively. 

Among losers, Power Grid shares slumped most by over 2 per cent, followed by HDFC twins – HDFC and HDFC Bank each down between 1.5 and 2 per cent intraday. Similarly, Asian Paint, Maruti, and Titan each slipped over 1.5 per cent on the NSE intraday. 

Sectorally, Nifty Bank, Auto, Financial Service and Realty witnessed selling pressure, while Metal, FMCG, IT, and Pharma surged in an otherwise negative market intraday.  

Metal pipes manufacturing company Hariom Pipe Industries shares froze on the upper circuit at 5 per cent at Rs 224.7 per share, after making a stellar debut on the exchanges on Wednesday. 

Shares of Hariom Pipe Industries were listed at Rs 214 per share on the BSE. This was a premium of Rs 61.00 or 39.87 per cent at the upper band of the issue price of Rs 153 apiece. On the NSE, the shares opened at Rs 220 per equity share, a gain of Rs 67 or 43.79 per cent.