MUMBAI: Benchmark indices Sensex and Nifty closed marginally lower in a volatile session on Wednesday, dragged down by blue-chip IT stocks.
The 30-share BSE Sensex slipped 28.21 points or 0.04 per cent to 75,939.18. It swung 757.2 points during the session, hitting an intraday high of 76,338.58 and a low of 75,581.38. The NSE Nifty dipped 12.40 points or 0.05 per cent to 22,932.90.
IT heavyweights Tata Consultancy Services (TCS) and Infosys declined over 2 per cent each, while Hindustan Unilever, Bharti Airtel, Sun Pharma, Power Grid, Bajaj Finserv, HCL Tech, Mahindra & Mahindra, and Tech Mahindra also closed lower.
On the gaining side, Zomato surged nearly 5 per cent, while Larsen & Toubro, Axis Bank, ICICI Bank, IndusInd Bank, and Kotak Mahindra Bank advanced.
Among sectoral indices, BSE Focused IT dropped 1.33 per cent, teck fell 1.31 per cent, and IT lost 1.21 per cent. Meanwhile, BSE Industrials rose 2.59 per cent, capital goods gained 2.19 per cent, metal climbed 1.41 per cent, services added 1.41 per cent, consumer discretionary was up 1.05 per cent, and commodities rose 0.95 per cent.
“The national benchmarks traded within a range with a slight downward bias, though selective buying in the broader market was evident due to bargain hunting in beaten-down stocks.
FII flows
A reversal in FII flows also influenced market sentiment, but its sustainability remains uncertain. Despite concerns over potential US tariff impositions and delays in anticipated interest rate cuts, optimism persists about a rebound in India’s Q3 GDP growth,” said Vinod Nair, Head of Research, Geojit Financial Services.
In Asia, Seoul and Shanghai closed higher, while Tokyo and Hong Kong ended lower. European markets were mostly in the red.
