Nifty ends 14-day winning streak as markets close with losses

MUMBAI: Benchmark equity indices ended in the red on Wednesday, with the Nifty50 breaking its 14-day winning streak, impacted by negative global sentiments.

The BSE Sensex dropped 202.80 points, or 0.25 per cent, to close at 82,352.64, while the NSE Nifty50 declined 81.15 points, or 0.33 per cent, to finish at 25,198.70.

In the Nifty50, 31 out of 50 constituent stocks closed lower, with Wipro, Coal India, ONGC, Hindalco, and LTIMindtree leading the losses, each falling by up to 3.05 per cent.

Conversely, Asian Paints, Grasim Industries, Hindustan Unilever, UltraTech Cement, and Sun Pharma were among the gainers, rising by up to 2.50%.

Losers on BSE

On the BSE, 19 out of 30 Sensex-listed stocks ended in the red. Mahindra & Mahindra, ICICI Bank, State Bank of India, and Axis Bank were the biggest losers, down by up to 1.29 per cent. Meanwhile, Asian Paints, Hindustan Unilever, and UltraTech Cement were among the 11 gainers, with increases of up to 2.39%.

Broader indices also closed lower, except for select midcap and smallcap stocks. The Nifty Smallcap index hit a record high during intra-day trading but retreated to close flat.

Sectoral indices

Among the sectoral indices, IT, PSU Bank, Auto, Financial Services, and Metal sectors led the losses, falling by up to 1.69 per cent. In contrast, FMCG, Pharma, Media, Realty, and Healthcare sectors managed to post gains of up to 1.09%.

The Bank Nifty index ended its four-session winning streak, with Federal Bank and Bank of Baroda leading the declines.

The Nifty IT index also fell for the second consecutive session, primarily dragged down by Wipro.

Similarly, the Nifty PSU Bank index declined for the second session, with Bank of India and Punjab & Sind Bank as the top sectoral losers.