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HomeBusinessSTOCK MARKET LIVE: Sensex, Nifty, SGX Nifty, WPI inflation, stock market fall

STOCK MARKET LIVE: Sensex, Nifty, SGX Nifty, WPI inflation, stock market fall

CLOSING BELL

Stock market highlights: Domestic market strength surprised for the better on Wednesday as major indices moved marginally lower despite a global market routine. The benchmark S&P BSE Sensex recovered 930 points from the low for the day to close at 60,347, down 224 points or 0.37 percent.

The Nifty50, meanwhile, climbed from a low of 17,771 to 18,004, down 66 points or 0.37 percent. The volatility index — India VIX — is up 5 percent today.

Financials, mainly banks, along with metals fueled the recovery, with the Nifty Metal and Nifty Bank indices each rising more than 1 percent. Among the individual stocks, IndusInd Bank (up 4.5 percent), SBI, Kotak Bank, Tata Steel, Hindalco, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Finserv were the largest large-cap winners.

However, the segment that weighed on the markets was the IT sector. The Nifty IT index fell 3.4 percent, with individual stocks such as Infosys, LTTS, Coforge, TCS, LTI, Mindtree, Mphasis, Tech M, HCL Tech and Wipro falling between 1.3 percent and 4.4 percent.

In the broader markets, the BSE MidCap index fell 0.1 percent, while the BSE SmallCap index fell 0.01 percent.

Main market
Harsha Engineers’ IPO of Rs 755 crore (IPO) sailed through on the first day itself, despite the weakness in the secondary market. At 3:00 PM, the issue was subscribed almost twice with the retail portion 2.5 times; employees on 16 occasions; NII at 3.4 times; and QIB at 3 percent.


Global clues

European markets were slightly lower on Wednesday as investors reacted to the latest inflation data out of the US. The pan-European Stoxx 600 fell 0.2 percent in early trading, with basic commodities and energy inventories falling 1 percent to take losses, while retail stocks bucked the trend to add 1.9 percent.

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Earlier in Asia, Nikkei and Hang Seng lost about 2.5 percent each; Kospi and Taiwan fell 1.5 percent each, while Shanghai fell 0.8 percent.

However, US stock futures pointed to a positive start later in the day, one day after the worst one-day sell-off in two years.


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