Stock markets ignored Standard & Poor's (S&P) downgrade of the local currency rating and outlook.
The benchmark BSE Sensex dropped 0.52 per cent, or 17.35 points, to close at 3,302.32 points today. The volume of trade was pegged at 45.7 million shares compared with Tuesday's 43.7 million.
However, shares of companies whose outlook was downgraded by S&P to negative from stable moved downward.
Also Read
Reliance Industries fell 1.13 per cent to Rs 325, Larsen & Toubro slipped 1.34 per cent to Rs 213 and Tata Power declined 1.54 per cent to Rs 131.
Technology stocks including Satyam Computer (up 1.97 per cent to Rs 155.35) and NIIT (up 2.61 per cent to Rs 179.10) gained on renewed buying, ignoring Tuesday's weakness in the tech-heavy Nasdaq.
Media major Zee Telefilms (up 1.25 per cent to Rs 93.15) recovered from the lower levels on bargain hunting after a recent fall.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app