Dalal Street caught in bear grip on Wednesday as the market posted biggest one day fall in percentage terms in two months. The Sensex lost more than 300 points, weighed by global weakness amid rising uncertainty over US President Donald Trump’s economic policies, and Missile test in North Korea, which reports said failed. Recent government’s proposal to reduce cash transactions limit to Rs 2 lakh from Rs 3 lakh also caused selling pressure.
NSE Nifty closed at 9030 levels, down by 91 points or 1%, while BSE Sensex closed at 29,167 levels, down by 317 points or 1.1%.
Asian stock markets fell following overnight declines in U.S. financial markets as investors re-evaluated their “Trump trade” optimism. The Nikkei 225 is down 2.13% while Hong Kong’s Hang Seng is off 1.11% and China’s Shanghai Composite is lower by 0.50%. European markets too are lower today with shares in France off the most. The CAC 40 is down 0.88% while London’s FTSE 100 is off 0.85% and Germany’s DAX is lower by 0.68%.
HCL Tech was the top Nifty gainer whereas, Bharti Airtel was the top Nifty loser in Wednesday’s trading session.
While, BSE Mid-cap Index closed down 0.8% at 13729 whereas, BSE Small-cap Index closed up 0.9% at 13899.
BSE Telecom index was the top losing index on Wednesday’s trade, with Bharti Airtel and Idea pulling the index to its lows.
Bharti Airtel closed at Rs 337 per share down by Rs 11 or 3.3%, whereas Idea Cellular closed at Rs 91.35 per share down by 1 or 1.7%.
Century Enka closed at Rs 407 per share, up by Rs 47 per share or 13%.
Eros International Media closed at Rs 249 per share, up by Rs 18 per share or nearly 7%.
Sobha closed at Rs 340 per share, up by Rs 22 per share or nearly 7%.
Symphony closed at Rs 1534 per share, up by Rs 90 per share or 6%.
There were 481 advances, 1142 declines and 299 unchanged stocks on NSE, reflecting bearish undertone floating in the market.
The rupee was trading at 65.48 per US dollar.
Top 5 Nifty Gainers: Lupin Ltd. (1.27%), HCL Technology Ltd. (1.25%), CIPLA (0.62%), BPCL (0.60%) and Dr. Reddy’s Laboratories Ltd. (0.50%).
Top 5 Nifty Losers: Bharti Airtel (-3.40%), ITC Ltd. (-2.95%), Tata Motors (-2.80%), Hindalco Industries Ltd. (-2.55%) and ICICI Bank (-2.52%)
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