Share Market Closing Bell! Sensex, Nifty end flat with negative bias – banking and financial services stock gain most
The Indian markets on Wednesday closed flat with negative bias after opening positively. The stock markets largely traded in a range-bound manner during intraday trading.
The Indian markets on Wednesday closed flat with negative bias after opening positively. The stock markets largely traded in a range-bound manner during intraday trading. The banking and financial services stocks gained most during today’s trade and managed to hold the markets even as IT and pharma sectors witnessed a beating.
The BSE Sensex fell marginally from its life highs to settle down at 58v250.26. It fell by over 29 points or 0.05 per cent on Wednesday. Meanwhile, Nifty50 dipped marginally by over 8 points or 0.05 per cent to 17353. While the mid-cap index outperformed the benchmarks and gained over 150 points or 0.5 per cent to 29105 levels.
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Nifty Bank became the showstopper to end around 300 points and 0.82 per cent higher to 36768.2 levels, mainly led by Kotak Bank, which also become the topmost gainer to end over 3.5 per cent higher at the market close on Wednesday.
Out of 50 scrips on Nifty50, 28 advanced, 22 declined at the market close on Wednesday. Besides Kotak Mahindra Bank, Power Grid, Grasim, BPCL, Coal India gained in a flat market by over 1.5 [er cent each the market close today.
On the contrary, Nestle India and Divis Lab ended as weakest stocks, down by around 2.5 per cent, followed by Wipro and SBI Life down 1.68 per cent, while Hindalco and Maruti slipped by 1.4 per cent in otherwise subdued market today.
Sectoral-wise, except for banking and financial sectors along with Nifty Metal all other sectors ended negative. Nifty Bank surged most at the close than its peers by over 1 per cent, mostly led by PSU Bank Index, which also ended over 1 per cent. While Nifty IT and Auto tried to drag the market most.
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