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The BSE Sensex settles 64.42 points, or 0.09 per cent, higher at 73,983.18, after touching an intraday high of 74,613.01, a decline of over 613 points from the day’s high.
Stock Market Today.
The domestic equity markets ended a volatile trading session on a subdued note on Wednesday, with early gains evaporating amid broad-based profit booking in the second half of the day. While private banks and FMCG stocks provided support, sharp declines in midcap, smallcap, metal and realty shares dragged the broader market lower.
The BSE Sensex settled 64.42 points, or 0.09 per cent, higher at 73,983.18, after touching an intraday high of 74,613.01, a decline of over 613 points from the day’s high. The Nifty 50 ended 27.15 points, or 0.12 per cent lower at 23,214.95, after rising to a day’s high of 23,425.35 during early trade.
The sharp reversal from intraday highs reflected cautious investor sentiment amid weak global cues and continued concerns over foreign fund outflows.
Broader Markets Under Pressure
The broader market significantly underperformed the benchmark indices. The Nifty Midcap 100 declined 1.49 per cent, while the Nifty Smallcap 100 fell 1.33 per cent. The Nifty Midcap 50 lost 1.41 per cent, the Nifty Smallcap 250 dropped 1.15 per cent, and the Nifty Microcap 250 slipped 1.44 per cent, indicating widespread profit booking across non-large-cap segments.
FMCG, Private Banks Shine
Among sectoral indices, Nifty FMCG emerged as the top performer, gaining 1.05 per cent, driven by strong buying in Hindustan Unilever and ITC. Nifty Private Bank advanced 0.72 per cent, while Nifty Chemicals rose 0.13 per cent.
On the other hand, Nifty Media tumbled 2.36 per cent, making it the worst-performing sector of the day. Nifty Realty fell 1.74 per cent, Nifty Metal declined 1.70 per cent, Nifty Oil & Gas dropped 1.48 per cent, and Nifty PSU Bank lost 1.39 per cent.
Top Gainers and Losers
In the Sensex pack, Hindustan Unilever and Axis Bank were the top gainers, rising 1.70 per cent each. They were followed by Kotak Mahindra Bank (+1.64 per cent), ICICI Bank (+1.40 per cent), ITC (+1.30 per cent) and HDFC Bank (+1.16 per cent).
Among laggards, Eternal declined 2.46 per cent, Tata Steel dropped 1.99 per cent, Bajaj Finserv fell 1.67 per cent, Titan lost 1.48 per cent, M&M shed 1.32 per cent, while HCLTech slipped 1.22 per cent.
Expert View
Vinod Nair, head of research at Geojit Investments Limited, said domestic equities ended lower amid weak global cues as investors remained cautious ahead of a key US inflation print that could influence the Federal Reserve’s policy path.
“Domestic equities ended lower amid weak global cues, as investors turned cautious ahead of a key US inflation print likely to influence the Fed’s policy trajectory. Early gains were reversed due to profit booking, while subdued oil prices, despite fresh geopolitical developments, offered limited support. FMCG stocks outperformed on expectations of price hikes, and private banks advanced following the RBI’s easing of FCNR(B) and ECB norms, whereas metals lagged due to softer commodity prices. Although domestic bond yields were lower due to steady foreign interest following the recent policy support to debt markets, slowing mutual fund inflows highlighted emerging pressure on equities amid the ongoing geopolitical uncertainties,” he said.
Ankur Punj, managing director and business head at Equirus Wealth, said volatility intensified towards the close as weak global sentiment and persistent foreign fund outflows weighed on the market.
“Volatility came to the fore at close as key benchmark indices ended mixed amid heightened selling pressure with weak global cues weighing on the sentiment. Although falling crude prices and a cooling rupee provided some support, persistent FII fund outflows continue to play havoc, whereas a delayed monsoon is also making investors jittery,” he said.
About the Author
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More
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