The BSE Sensex fell for the third consecutive day, losing 494.75 points or 0.61 per cent to close at 81,006.61. During the session, it dropped as much as 595.72 points or 0.73 per cent to 80,905.64.
The market capitalisation of BSE-listed companies plunged by Rs6,03,862.06 crore, bringing the total to Rs4,57,25,183.01 crore ($ 5.44 trillion).
“Rising domestic inflation data released this week and continued FII selling weighed on market sentiment. Along with disappointing Q2 earnings from major companies, this added pressure,” said Siddhartha Khemka, Head – Research, Wealth Management at Motilal Oswal Financial Services Ltd.
Losers from Sensex
Among the 30 Sensex constituents, Nestle declined over 3 per cent after reporting a 0.94 per cent drop in net profit for Q2 at Rs899.49 crore, with softer demand for key brands and high commodity prices. Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Titan, Tata Steel, Maruti, and Axis Bank also posted significant losses.
However, Infosys, Tech Mahindra, Power Grid, Larsen & Toubro, and State Bank of India (SBI) emerged as top gainers.
Foreign Institutional Investors (FIIs) sold equities worth Rs3,435.94 crore on Wednesday, according to exchange data.
The BSE midcap gauge fell by 1.65 per cent, while the small-cap index dropped by 1.42 per cent. Among sectoral indices, realty tumbled by 3.76 per cent, auto by 3.48 per cent, and consumer discretionary by 2.45 per cent. IT and teck indices were the only gainers.
Overall, 2,690 stocks declined, while 1,272 advanced, and 102 remained unchanged on the BSE.
