FINAL TRADE: Nifty slips to 22,201, Sensex ends 118 pts lower, 3-day rally halts
Stock market today: Halting the three-day rising trend, domestic equity benchmarks Nifty50 and Sensex settled in near flatline after trading in a tight range throughout the session.
Stock market today: Halting the three-day rising trend, domestic equity benchmarks Nifty50 and Sensex settled in near flatline after trading in a tight range throughout the session. A drop in financial, and auto stocks led to losses, however, buying in telecommunication and power stocks lent some support.
The Nifty index lost 17.3 points to end at 22,200.55 while the Sensex settled at 72,987.03, down 117.58 points from its previous close.
Among the Nifty companies, 23 were advancing while 27 were declining.
Tata Motors, Bajaj Auto, Asian Paints, Eicher Motors, and Britannia were the top decliners in the Nifty 50 universe while Coal India, Cipla, BPCL, Bharti Airtel, and Power Grid led the gains.
Nifty Bank closed 0.36 per cent lower at 47,687.45. Meanwhile, Nifty IT settled subdued at 33,117.4 ahead of key US inflation readings that could influence the future rate trajectory.
The domestically focussed Nifty SmallCap 100 and Nifty MidCap100 were up 0.58 per cent and 0.96 per cent, respectively.
"The market witnessed a sideways movement throughout the day as the emotions of investors were impacted by the election-led jitters. FIIs continued to remain in the selling mode; however, domestic investors were largely concentrated on stock-specific picks, Vinod Nair, Head of Research, Geojit Financial Services said.
"The positive results from the capital goods sector and robust growth outlook gained investors’ attention and led the segment to outperform. A drop in US 10 year yield ahead of the release of sensitive CPI data from the US will be watched carefully by the market to gain insights on rates," he added.
Global Market
On Wednesday, Europe's benchmark index climbed to a record high as investors cheered a handful of robust earnings from UK's Experian and Germany's Commerzbank. At the same time, they also buckled up for the highly anticipated US inflation data.
The pan-European STOXX 600 was 0.3 per cent higher at the last count.
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