market condition
There was huge volatility in the domestic stock markets on Wednesday, as a result of which the Sensex closed with a fall of 143 points. In the morning session, the Sensex opened with a gain of 485 points at 74,337.93 points and after some time it reached 74,682 points with a jump of 830 points.
However, by afternoon, selling pressure increased in the market, due to which the Sensex fell by 623 points to 73,229.45 points. Ultimately, it closed at 73,709.69, down 143.21 points (0.19 percent).
The performance of Nifty-50 was similar to that of Sensex, which fell 77.60 points (0.34 percent) to end at 22,811.35. The market witnessed a broad decline, while only the IT sector gained momentum.
All major indices remained in the red, with the Nifty Midcap-50 index falling 1.60 per cent and the Smallcap-100 index falling 2.37 per cent.
Among the sector-based indices, Nifty IT was the strongest gainer with a rise of 2.88 per cent. Indices of consumer durables, metals, auto, finance, media and realty groups fell between 1 to 2 per cent. Out of 3,698 companies in NSE, shares of 2,988 were in the red and 608 were in the green.
Shares of another 102 companies ultimately closed unchanged. Shares of 19 out of 30 Sensex companies remained in loss. Bajaj Finance shares closed down 3.33 percent. Shares of Eternal fell 2.71 per cent, Trent 2.32 per cent and Axis Bank 2.11 per cent.
NTPC fell by 1.99 percent, Maruti Suzuki by 1.94 percent, Indigo by 1.39 percent, Kotak Mahindra Bank by 1.38 percent, BEL by 1.29 percent and Bajaj Finserv by 1.05 percent.
In the IT sector, due to buying, shares of HCL Technologies were up by 3.40 percent, Infosys by 3.31 percent, Tech Mahindra by 3.21 percent and TCS by 2.88 percent. UltraTech Cement was up 1.80 percent and Bharti Airtel was up 1.05 percent. Shares of Power Grid and Reliance Industries also remained in the green.
Globally, in Asia, Japan's Nikkei gained 0.85 per cent, while Hong Kong's Hang Seng fell 0.90 per cent and China's Shanghai Composite fell 0.60 per cent. In early trade in European markets, Germany's DAX was up 0.71 percent and Britain's FTSE was up 0.05 percent.