Stock Market Today: Nifty, Sensex End Lower Tracking Global Rout; ICICI Bank, Infosys Drag

The Indian rupee closed flat at 83.97 against the US dollar. It closed at 83.97 on Tuesday.

Source: Bloomberg

Indian benchmark indices took a breather from a record rally to close lower on Wednesday as sentiment was hit after a rout in global stocks.

The NSE Nifty 50 ended 0.3% or 81.1 points lower at 25,198.70, while the BSE Sensex declined 0.25% or 202.80 points to close at 82,352.64.

Intraday, the Nifty fell as much as 0.78% to 25,083.80 and Sensex plunged as much as 0.87% to hit a low of 81,833.69.

Shares of ICICI Bank Ltd., Infosys Ltd. and Larsen & Toubro Ltd. contributed the most to the losses in the Nifty.

Reliance Industries Ltd., Hindustan Unilever Ltd., Asian Paints Ltd. and HDFC Banks Ltd. advanced the most.

Most sectoral indices ended lower, with Nifty Pharma being the top gainer. Nifty PSU Bank fell the most.

Broader markets ended on a mixed note. The BSE Midcap settled 0.15% lower, and Smallcap indices ended 0.26% higher.

On BSE, 15 sectors ended lower, and five higher out of 20. The BSE Health care logged the most gains, while the BSE Metal declined the most.

Market breadth was evenly split between buyers and sellers. Around 2,019 stocks fell, 1,932 stocks rose, and 96 remained unchanged on BSE.

• Nifty snapped its longest ever streak after settling flat on Tuesday

• Nifty ends 0.57% or 144.75 points lower at 25135.10

• Sensex ends 0.21% or 171.32 points lower at 82384.12

• Intraday, Nifty fell as much as 0.78% to 25,083.80 and Sensex declined as much as 0.87% to hit a low of 81,833.69

• Broader indices were mixed; Nifty Midcap 100 ended 0.1% lower while Nifty Smallcap 250 outperformed and closed 0.32% up.

• Most sectoral indices ended lower; Nifty Pharma was the top gainer and Nifty PSU Bank fell the most

• Asian Paints and Grasim Industries were top Nifty gainers

• Wipro and Coal India were top losers among Nifty stocks

• Biosecure act may be introduced in Senate in US next week

• Can rerate valautions for Indian CDMO companies if approved

• Act would restrict US federal agencies from procuring equipment and services from certain “biotechnology companies of concern”, primarily some large Chinese pharma companies.

• CDMO companies including Syngene and Neuland Labs hit their lifetime highs

• Shares of Biocon and Granules were the top performing stocks in the index.

• Introduces Mirabegron extended-release tablets in United States

• Mirabegron is a medication used to treat overactive bladder

Source: Exchange filing