Sensex snaps 5-day winning run, falls 346 pts

Sensex snaps 5-day winning run, falls 346 pts

MUMBAI [Maha Media]:  The BSE Sensex ended lower on Wednesday, snapping its 5-day winning streak as IT and auto stocks witnessed profit booking after the recent rally. Lower opening of European indices also impacted sentiments. The BSE Sensex ended 345.51 points or 0.94% lower at 36,329.01 while the Nifty50 index settled 93.90 points or 0.87% down at 10,705.75. Although Nifty Bank remained in the positive territory throughout the session, it fell in the last hour of trade.

Among Nifty stocks, Zee Entertainment was the top loser, down 4.49% followed by Bajaj Finance and Asian Paints, which fell 4.29% and 3.41% respectively. Tata Motors, Maruti Suzuki, HCL Tech, Bajaj Finserv, Eicher Motors, Titan Company, Infosys, Grasim, TCS were the other prominent losers in the Nifty.

Meanwhile, IndusInd Bank was the top gainer in Nifty, up 5% as reports suggested that US-based hedge fund Route One Investment Company has initiated talks to increase its stake in the private sector lender. Vedanta, JSW Steel, Hindalco, SBI, Dr Reddy's Lab, HUL, Tata Steel, ITC, IOC, Sun Pharma, HDFC Bank, Bajaj Auto were the other big gainers in the Nifty, rising between 0.18%-2.60%.

Market breadth remained negative. Out of the 1,635 stocks traded on the NSE, 652 stocks ended higher while the other 983 shares closed with losses.

The rupee also depreciated 9 paise to settle at 75.02 against the US dollar on Wednesday tracking volatile domestic equities, rising crude oil prices and strengthening American currency. While foreign fund inflows supported the rupee, factors like strong dollar, volatile domestic equities and rising COVID-19 cases dragged the local unit down, Forex traders said.

Global markets

European shares traded lower. Germany's DAX fell 0.80%, London's FTSE 100 shed 0.22% while France's CAC 40 index declined by 1.02%. US stock futures were trading nearly flat indicating slow start on Wall Street today. Asian shares mostly ended higher except for Japan's Nikkei and South Korea's Kospi.

Related News