Share Market Closing Bell! Nifty, Sensex snaps 2-day gaining streak, ends negative; Metal, pharma and IT stocks drag most

The Indian market snapped a two-day gaining streak to end on a negative note on Wednesday, as both the benchmark indices declined by over 1 per cent. Sensex slipped over 550 points, while Nifty below 17650 levels at the market close today.

The BSE Sensex tumbled 555 points or 1 per cent at 59,189; while Nifty50 fell over 176 points or 1 per cent to 17,646. Similarly, the mid-cap index along with benchmarks also slumped over 381 points or 1 per cent at the market close today.        

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Nifty Bank dragged the Nifty50 index most by over 200 points or 0.6 per cent to 37521.55 levels, led by IndusInd Bank down over 3 per cent at the market close.

At least 8 stocks advanced and 42 declined of Nifty50 at the market close on Wednesday. SBI Life became the top laggard, down over 4 per cent, followed by Hindalco slipped near 4 per cent and IndusInd Bank, JSW Steel and Coal India each dipped by over 3 per cent at the market close today.  

In other wise negative market, Tata Consumers surged most by 2.5 per cent, followed by ONGC up over 2 per cent at the market close. Similarly, UPL, Britannia and HDFC Bank each gained over 1 per cent today at the close.

All sectoral indices closed in the red, with Nifty Metal declining most by over 3 per cent, followed by Nifty IT and Pharma. Similarly, the weakness in broader markets was enforced by Realty and media indices, down around 2 and 1 per cent respectively at the market close on Wednesday.