Markets reduce early profits; Sensex, Nifty down 1% | Jobs Vox


The Sensex and Nifty gave up early gains to end 1 percent lower on Wednesday amid a mostly weak trend in Asian markets and a sell-off in index majors Reliance Industries, ICICI Bank and HDFC twins.

The benchmark 30-share BSE Sensex index fell 635.05 points or 1.03 percent to 61,067.24 points. During the day, it fell by 763.91 points or 1.23 percent to 60,938.38.

The broader NSE Nifty fell 186.20 points or 1.01 percent to end at 18,199.10.

Of the Sensek pack, IndusInd Bank, Bajaj Finserv, Maruti, UltraTech Cement, Tata Motors, Akis Bank, State Bank of India and Kotak Mahindra Bank were the major laggards.

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The rupee fell by 10 paise to 82.80 against the dollar

The dollar index, which measures the dollar’s strength against a basket of six currencies, slipped 0.09 percent to 104.06

Sun Pharma, HCL Technologies, Tata Consultancy Services, Tech Mahindra, Nestle, Wipro and Infosis finished in the green.

Elsewhere in Asia, stock markets in Seoul, Tokyo and Shanghai ended lower, while Hong Kong posted gains.

Stocks in Europe traded in positive territory in mid-session deals. US markets ended higher on Tuesday.

Benchmarks fell again on Covid fears in China and elsewhere, said S Ranganathan, head of research at LKP Securities.

The international benchmark for oil, Brent crude, rose 1.08 percent to $80.85 per barrel.

Foreign institutional investors (FIIs) bought shares worth INR 455.94 crore on Tuesday, according to exchange data.


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