FINAL TRADE: Sensex cracks 796 pts; Nifty settles below 20,000; HDFC Bank ends 4% lower
Stock market today: At close, the S&P BSE Sensex was down 796 points, or 1.18 per cent at 66,800.84, and the NSE Nifty was down 231.9 points, or 1.15 per cent, at 19,901.4 levels.
Stock market today: The Indian share market closed on Wednesday, September 20, with deep cuts as bears took over Dalal Street amid selling in blue-chips such as HDFC Bank and Reliance Industries (RIL). HDFC Bank slipped after the lender, in its Analyst Meet, said that its net interest margin (NIM) will stay under pressure in the near term.
All counters on the sectoral front bled. Globally, the US Fed will announce the policy decision later in the day, which also dragged the index.
At close, the S&P BSE Sensex was down 796 points, or 1.18 per cent at 66,800.84, and the NSE Nifty was down 231.9 points, or 1.15 per cent, at 19,901.4 levels.
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In the broader market, the Nifty Mid Cap 100 and Small Cap 100 also closed in negative territory.
On the sectoral front, Nifty Bank was down 1.29 per cent at 45,384.6 levels.
NIFTY 50 STOCKS
HDFC Bank, JSW Steel, Reliance Industries, UltraTech Cement, and BPCL were the major laggards on the NSE. Conversely, Power Grid, Coal India, ONGC, Asian Paints, and Sun Pharma were the top gainers.
HDFC Bank shares were down over 3 per cent at close after the lender flagged an impact on its asset quality post-merger.
Conversely, Blue Star shares rallied over 12 per cent post-qualified institutional placement (QIP) opening.
SJVN stock closed over 6 per cent higher after the company signed a Memorandum of Understanding (MoU) with Power Finance Corporation Ltd. (PFC) for financial assistance for projects.
JK Tyre shares jumped over 6 per cent as DAM Capital sees a 23 per cent upside in stock.
Asian shares declined Wednesday as markets awaited a decision on interest rates by the Federal Reserve.
On Wall Street, the S&P 500 slipped 0.2 per cent to 4,443.95. The Dow Jones Industrial Average dropped 0.3 per cent to 34,517.73, and the Nasdaq composite lost 0.2 per cent to 13,678.19.
Markets have seesawed for weeks on uncertainty about whether the Fed is done with its market-shaking hikes to interest rates. By raising its main interest rate to the highest level in more than two decades, the Fed has helped inflation cool from its peak last year, but at the cost of hurting investment prices and damaging some corners of the economy.
(With agency inputs)