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Fag-end selling drags Sensex for 6th day, dips 69 pts; RIL slips 1%

Closing Bell: The frontline S&P BSE Sensex fell 69 points to settle at 57,232 levels while the Nifty50 shut shop at 17,063 down 29 points

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SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Market LIVE updates: Sensex, Nifty slip into red; Auto, IT stocks weaken
CLOSING BELL

A sharp slide in the fag end of the session dragged equities lower for the sixth straight day. Despite starting higher amid cautious global cues, benchmark indices failed to hold on to their gains as investors sold IT, financial, and auto stocks in the later half of the session.

Besides, a volatile situation between Russia and Ukraine also kept investors on their toes as they monitored the implications of the first batch of sanctions on Vladimir Putin's country.

The frontline S&P fell 501 points from the day's high and settled 69 points lower at 57,232 levels. The Nifty50, meanwhile, shut shop at 17,063, down 29 points.

Kotak Bank (up 2.5 per cent) was the top gainer today, followed by Titan Company, IndusInd Bank, Maruti Suzuki, Wipro, and Infosys.

On the downside, NTPC, L&T, Bajaj Finserv, Nestle India, ICICI Bank, HDFC Bank, HDFC, and RIL were the biggest laggards, sliding between 0.6 per cent and 1.4 per cent.

The broader markets, however, outperformed the frontline indices with the MidCap and SmallCap indices ending up to 1 per cent higher.

Among individual stocks, shares of Butterfly Gandhimathi Appliances (Butterfly) hit a record high of Rs 1,419 after Consumer Electricals made an open offer to acquire 26 per cent equity stake (4.65 million shares) of the company at Rs 1,433.90 per share. READ MORE

That apart, shares of Adani Wilmar freezed at 10 per cent upper circuit at Rs 345.80 on the with only buyers seen on the counter. The stock of the Adani Group edible oil major had closed at Rs 314.40 on Tuesday, correcting 25 per cent from its record high level of Rs 419.90 on February 11, 2022. READ MORE

On the flipside, shares of Dhani Services continued to reel under pressure, freezing at 10 per cent lower circuit for a third straight day. The shares were quoting at down limit of Rs 74.50 on the National Stock Exchange (NSE) on Wednesday after foreign portfolio investor (FPI) sold shares of the company via open market. READ MORE

Overall, over 2,100 stocks advanced on the BSE while 1,169 stocks declined. Over 90 stocks settled unchanged on thee BSE.

Sectorally, the Auto and Financial Services indices ended 0.2 per cent down each, and the IT index slipped 0.04 per cent. On the upside, thee Realty index added 3 per cent on the today.

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