Indian share markets continued to trade weak in the afternoon session and finished in red as caution prevailed ahead of UP state elections. After volatility, equity benchmarks ended lower for second consecutive session Wednesday as investors awaited exit polls for the Uttar Pradesh assembly elections due tomorrow and Federal Reserve policy meeting next week.
NSE Nifty closed at 8924 level, down by 22 points or 0.3%, while BSE Sensex closed at 28901 level, down by 98 points or 0.3%.
Broader markets shown weakness on Wednesday. BSE Mid-cap index closed at 13428 level, down by 76 points underperforming the major indices in the market. BSE small-cap index closed at 13633 levels, down by 42 points.
Bosch Limited was the top Nifty gainer and Idea Cellular was the top Nifty loser. Bosch closed at Rs 21900 per share up by 2.5% and Idea Cellular closed at Rs 106 per share down by 2.3%.
The highly talked about IPO in the market right now, Avenue Supermarkets IPO got subscribed by 0.6 times till the afternoon on the first day of subscription.
Government has asked the concerned ministry to initiate discussions regarding the merger of MTNL and BSNL. The markets celebrated this development. MTNL surged by 18% to touch its fresh 52-week high of Rs 26.5 per share.
V-Mart Retail Limited closed at Rs 873 per share, up by 20%.
Capital Trade Links Limited closed at Rs 32.95 per share, up by 13%.
Jindal Stainless Limited closed at Rs 67.4 per share, up by 11%.
Hathway closed at Rs 38.35 per share, up by 6.23%.
There were 521 advances, 1109 declines and 295 unchanged stocks on NSE reflecting strong negative bias floating in the market.
The rupee was trading at 66.69 per US dollar.
Top 5 Nifty Gainers: Bosch Ltd. (2.51%), Yes Bank (2.20%), Zee Entertainment Enterprises Ltd. (1.53%), Eicher Motors Ltd. (1.14%) and Kotak Bank (0.86%).
Top 5 Nifty Losers: IDEA (-2.26%), Tata Steel (-2.10%), ONGC (-1.91%), Tech Mahindra Ltd. (-1.47%) and BHEL (-1.34%)
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