Wednesday session closed on a negative note with the financial market losing the consecutive run to slip and end low. BSE Sensex drops 345 points to close the session at 36329 holding the 36000 levels. At the same time, NSE Nifty50 slumps 93 points to end at 10705 just above the 10700 standards. Bulls failed to continue the 5-day consecutive winning streak dragging the market down.
Weak global market cues and spiking COVID-19 cases affected the investor sentiments forcing the market to end in red. European markets opened on a flat and uncertainty in the US market led the domestic financial market to lose hopes. Tracking volatile session, IT and Auto sector led the market towards losses. Analysts advise investors not to hurry and buy dipping stocks as high risk is awaited near 10900 levels. Rupee loses grounds to drop against US Dollar further amid dropping crude prices.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Tanfac Industries surged the most by 19.98%. Other top gainers include Aditya Vision, MMTC Ltd. and Assoc Stone rising by 19.77%, 19.67% and 17.39% respectively. In the NSE market, MMTC Ltd. topped the list by 19.67%. Following that, Newgen Software, KSS and RKEC Project gained by 15.41%, 14.29% and 11.25% respectively.
On BSE Sensex index, eight stocks surged while others dropped. IndusInd Bank gained the highest by 5.06%. Other gainers include SBI, HUL, ITC and HDFC Bank rising by 1.80%, 1.45%, 1% and 0.39% respectively. On NSE Nifty50 index, IndusInd Bank was at the top by 5%. Subsequently, Vedanta, JSW Steel, Hindalco, Dr Reddy Laboratories and Sun Pharma soaring by 2.60%, 2.36%, 1.77%, 1.65% and 0.68% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, Evans Electric lost the most by 20%. Other top losers include Arvind Smart, Tera Software and HB Portfolio dropping by 9.93%, 8.50% and 6.44% respectively. In the NSE market, Viagra Polytex dipped the highest by 12.50%. Following that, BGR Energy, Mangalore Chemicals and Ankit Metal slipping by 8.49%, 8.28% and 6.67% respectively.
On BSE Sensex index, Bajaj Finance was the worst loser of 4.45%. Other losers include Asian Paints, Maruti Suzuki, Infosys and M&M dipping by 3.37%, 2.93%, 2.49% and 1.77% respectively. On NSE Nifty50 index, Zee Entertainment Ltd. slumps by 4.52%. Alongside, Tata Motors, HCL Tech, Eicher Motors and ICICI Bank lost 3.39%, 2.90%, 2.70% and 1.89% respectively.
FII and DII
Foreign Institutional Investors took out a net value of INR 994.87 crores in the domestic equity market, making a negative impact on losing the hopes amid volatility in today’s session. Foreign investors bought stocks of value INR 5473.24 crores and sold-off a total value of INR 6468.11 crores tracing negative session.
Domestic Institutional Investors withdrew a total of INR 784.47 crores from the equity market, making a negative impact tracking volatile session. Also, local investors bought stocks of value INR 3512.24 crores and disposed-off INR 4296.71 crores making a dent in the market.