Sensex, Nifty Give Up Half Of Tuesday’s Gain Courtesy HDFC Twins, I.T.
Two-Day Rally Ends
Indian equities snapped a two-day losing streak amid weak global cues, giving up half of the gains made on Tuesday in the process.
The S&P BSE Sensex ended 1.2% lower at 49,509 while the NSE Nifty 50 declined 1% to close at 14,690. Losses on the benchmark indices were led by the HDFC twins. Both HDFC and HDFC Bank ended with losses of 4% each in today's session. Both these stocks contributed to 105 out of the 157 point-drop on the Nifty in today's session.
The losses in HDFC Bank also impacted the Nifty Bank index, which ended 1.7% or 570 points lower to end at 33,303. The Nifty I.T. index was the other major sectoral laggard, ending 1% lower.
The Nifty Realty index was the top sectoral gainer in today's session, ending 1.7% higher. Among the other sectoral gainers in today's session were the PSU Bank index which gained 1.3% while the FMCG index gained 1% at the close of trade.
Broader markets outperformed in today's trading session. The Nifty Midcap and Nifty Smallcap index ended with gains of 0.4% each.
The India Volatility Index rose 0.8% to end at 20.65.
900 stocks on the NSE ended with gains while 990 stocks posted losses.