Benchmark indices Sensex and Nifty extended their decline for the fourth consecutive session as crude oil prices neared USD 100 a barrel amid escalating tensions between the US and Iran.
The 30-share BSE Sensex closed 363.66 points or 0.47 per cent lower at 76,391.39. During the day, the benchmark hit a high of 76,726.66 and a low of 76,151.98, gyrating 574.68 points. The 50-share NSE Nifty was down by 126.65 points or 0.53 per cent and ended the session at 23,869.60. The broader market too ended the session in the red. While the BSE MidCap Select Index fell 195.78 points or 1.07 per cent, the BSE SmallCap Select Index dropped 95.45 points or 1.10 per cent.
Among sectoral indices, Nifty Realty, Nifty PSU Bank, and Nifty Metal witnessed selling pressure, followed by Nifty FMCG.
According to experts, stock markets are expected to remain volatile until crude oil prices ease and global geopolitical tensions subside. In such a scenario, investors are closely monitoring corporate quarterly results, foreign investor activity, and international market cues.
Meanwhile, Foreign Institutional Investors (FII) offloaded equities worth Rs 819.20 crore on a net basis on Wednesday, according to exchange data.
Top gainers and losers
Among the 30-Sensex firms, Mahindra & Mahindra, TCS, Eternal, Bajaj Finserv, and HCL Tech were the major gainers, with M&M gaining 1.70 per cent today. On the flip side, Adani Ports, Bajaj Finance, Indigo, Axis Bank and SBIN were among the laggards. Adani Ports shares fell 2.26 per cent today.
Today, shares of 11 out of 30 Sensex companies closed in the green, while the remaining 19 closed in the red. On the other hand, shares of 20 out of 50 Nifty 50 companies also closed in the green, with gains, while the remaining 30 closed in the red.
Rupee falls 14 paise
Meanwhile, the rupee traded in a narrow range, appreciating marginally by around 0.05 per cent to 96.50. The rupee depreciated by 28 paise to close at 96.53 against the US dollar on Wednesday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading flat at 101.12.