Share Market Closing Bell! Sensex ends in red, Nifty in green; Tata Steel, JSW Steel, IOC, NTPC, Hindalco top gainers on Wednesday

The Indian markets on Wednesday ended almost flat though the BSE Sensex ended with a negative bias while the broader market NSE Nifty 50 ending in green. Nifty50 turned positive in the last hour of trade, ending just above flatline at 16,282 after recovering nearly 120 pts from lows. While Sensex ended flat too but in the red after recovering from significant losses on the intraday basis, today. 

The BSE Sensex closed flat but negative at 28.73 points or 0.05 per cent lower to 54,526, while Nifty closed flat but in the green at 16,282 up 2.2 points or 0.01 per cent at the market close today.    

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The broader markets, too, succumbed to profit-booking. The BSE MidCap and SmallCap indices fell 1.5 per cent and 2.5 per cent, respectively. 

Another important index to the market, Nifty Bank ended negative by over 227 points or 0.63 per cent to 35,805 levels, led by Kotak Bank and ICICI Bank.    

Out of 50 scrips on Nifty50, 22 advanced, 28 declined at the market close. The metal stocks continuing its surge for the entire session today, the shares of Tata Steel jumped most by 4 per cent and JSW Steel almost 4 per cent being the most gainer at the market close on Wednesday. 

Similarly, IOC, NTPC and Hindalco, which was a top gainer at open today, ended between 2-2.5 per cent higher at the close on Wednesday. While other PSU stocks such as Power Grid, ONGC, BPCL, and Coal India also surged during Wednesday’s session. 

On the contrary, Shree Cement slumped most by over 2 per cent, despite good Q1 earnings on Monday, followed by banking stocks such as Kotak Bank down around 2 per cent, ICICI Bank down over 1 per cent, while Sun Pharma and Bajaj Auto declined by over 1.5 per cent at the close today. 

Except for Nifty Metal, PSU Banks, and Realty indices, all other sectors declined in a mute market. The metal index jumped over 3 per cent, followed by PSU Bank Index up 0.5 per cent at the close, while pharma index and private bank stocks tried to drag the market in the red zone on Wednesday.