The range-bound session ends on a lower note for the second straight session on Wednesday. The Nifty 50 closed the session 74 points or 0.30% lower at 24,752, the Sensex fell 240 points or 0.29% to settle at 81,312.
Breaking ranks with the overall market sentiments, the Nifty Bank inched up 64 points or 0.12% to end at 55,417.
The midcap stocks were in line with the benchmarks. The BSE midcap surged 98 points or 0.22% to 45,093.52. However, outperforming overall markets, BSE Smallcap surged 257 points or 0.50% to 52,122.64.
“The domestic indices remained rangebound with a negative bias, primarily due to the lack of support from FIIs and prevailing premium valuations. A lingering concern over India-US trade relations following the end of the 90-day pause period continues to pose an external risk. On the domestic front, key economic indicators such as an improved monsoon forecast, a benign inflation outlook, and expectations of a stronger Q4 GDP may help cushion downside risks,” said Vinod Nair, Head of Research at Geojit Investments.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Wednesday’s session on a negative note. During the session, the Nifty 50 fell as much as 0.35%, while the 30-stock index, Sensex, corrected 0.37%.
Top gainers
HDFC Life Insurance was the top gainer in the Nifty 50 in Wednesday’s session, closing 1.51% higher. It was followed by BEL, Bajaj Finance, Hero MotoCorp, and Bharti Airtel.
Top losers
Meanwhile, the shares of IndusInd Bank were the biggest losers in today’s trade. It was followed by Apollo Hospitals, UltraTech Cement, Hindalco, Nestle India, and many others.
Best and worst performing business groups
The Adventz Group’s market capitalisation has risen the most in Wednesday’s trade, gaining over 2.7%. In the list of Adventz Group stocks, Paradeep Phosphates surged the most, rising over 5%, which was followed by other stocks, including Texmaco Rail & Engineering’s stocks. Adventz Group was followed by Nagarajuna Group, whose market cap increased by almost 2.18%, Essel’s market cap increased by 1.82%, and others. However, the Patodia Group’s market cap declined the most, falling 2.812.
Sectors that surged most in Wednesday’s trade
The sugar sector advanced the most in Wednesday’s trade. Of the 11 stocks in the list of sugar stocks,
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