Sensex News Today: Sensex Down 300 Points, Nifty Tests 14,700

Sensex News Today: After making negative opening, Sensex and Nifty continued to trade lower on Wednesday, tracking bearish cues from Asian markets. The BSE Sensex was trading 325 points or 0.65 per cent lower at 49,725, and the NSE Nifty was quoting at 14,721.95, down 92.8 or 0.65 per cent.

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The BSE Midcap index was down 0.12 per cent, while BSE Smallcap index was up 0.02 per cent. On the sectoral front, metal and bank stocks were top losers, while power and pharma space were leading gains. The Market breadth, indicating the overall strength of the market, was weak.

Out of 2,315 shares traded on BSE, 1,012 advanced, 1,193 declined and 110 were unchanged. Among the individual stocks, ICICI Bank, IndusInd Bank, State Bank of India, Axis Bank, Ultratech Cement, Infosys, Reliance Industries, HDFC, Maruti, TCS were among top losers, while Asian Paints, Power Grid Corporation of India, Bharti Airtel, HUL, NTPC were among top gainers.

On Tuesday, Indian stock market ended higher on the back of strong gains in bank and realty sectors. The BSE Sensex closed at 50,051, up 280 points or 0.56 per cent and the NSE Nifty ended at 14,814, up 78.35 points or by 0.53 per cent. Among the individual stocks, UltraTech Cement, Titan Company, ICICI Bank, IndusInd Bank, Axis Bank were among top gainers, while ONGC, Power Grid Corporation of India, ITC, NTPC, HDFC were among top losers.

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On the sectoral front, bank, power and realty index were among top gainers, while metal and FMCG space were among top laggards. The BSE bank index rose 1.5 per cent after the Supreme Court pronounced its judgment on the loan moratorium. In a partial relief to banks and financial institutions, the apex court has refrained from a complete waiver of interest.

Shares of Rail Vikas Nigam plunged 7.56 per cent to hit low of Rs 28.10 on the BSE on government’s stake sale bid announced on Tuesday. The Centre has proposed to sell 15 per cent stake in Rail Vikas Nigam via offer for sale to raise around Rs 755 crore. The floor price has fixed at Rs 27.50 a share, 9.54 per cent discount from Tuesday’s closing price.

Gold price extended fall on Wednesday amid investors’ increasing appetite for riskier assets. Gold price tumbled by Rs 800 per 10 gram in Indian on Wednesday. 22-carat Gold was quoting at Rs 43,000 per 10 gram, while the 24-carat gold price was Rs 44,000 per 10 gram.

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