MUMBAI: Tata Motors and Reliance Industries led the decline in the equity markets on Wednesday, with Tata Motors plunging nearly 6 per cent, exerting significant pressure on the indices.
Reliance Industries also faced selling pressure, contributing to the market’s overall weakness.
Sensex and Nifty
As a result, the 30-share BSE Sensex fell by 398.13 points, or 0.49 per cent, to close at 81,523.16, marking a volatile trading session. The index had dropped as much as 498.15 points, or 0.60 per cent, during intraday trading to reach a low of 81,423.14.
Similarly, the NSE Nifty slipped 122.65 points, or 0.49 per cent, to end at 24,918.45. Among other key laggards on the Sensex were NTPC, Adani Ports, Larsen & Toubro, State Bank of India, JSW Steel, Mahindra & Mahindra, IndusInd Bank, and Titan.
On the positive side, Asian Paints, Bajaj Finance, Hindustan Unilever, and Bajaj Finserv managed to post gains.
Asian markets
Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, closed lower, adding to the bearish sentiment. In contrast, European markets traded mostly in positive territory, while US markets ended with gains on Tuesday.
Foreign Institutional Investors (FIIs) remained net buyers, purchasing equities worth Rs2,208.23 crore on Tuesday. Meanwhile, global oil benchmark Brent crude rose 1.49 per cent to $0.22 per barrel.
In the previous session on Tuesday, the BSE benchmark Sensex had gained 361.75 points or 0.44 per cent to settle at 81,921.29, while the NSE Nifty had surged 104.70 points or 0.42 percent to close at 25,041.10.
