Top sectoral gainers and losers on NSE
The S&P BSE Sensex ended at 35,200, down 275 points or 0.8 per cent, while the broader Nifty50 index settled at 10,600, down 56 points or 0.5 per cent. The Nifty50 had hit a low of 10,562 in morning trade before recovering losses partially in late noon deals.
India's foreign exchange and debt markets were shut on Wednesday on account of Id-E-Milad.
Among key stocks, Dr. Reddy's Laboratories rose 6.4 per cent to Rs 2,600.45 on the National Stock Exchange (NSE) after a US appeals court on Tuesday allowed the generic drug company to sell a copycat version of the Indivior Plc opioid treatment Suboxone Film, sending Indivior's stock price down more than 40 per cent, said a Reuters report.
Shares of Dewan Housing Finance Corporation (DHFL) ended 4.3 per cent higher at Rs 235 apiece on NSE after the company reported a 52 per cent year-on-year (YoY) increase in its net profit at Rs 4.38 billion for September quarter of FY19. The company had posted profit of Rs 2.87 bilion in the year-ago period.
The Nifty IT index, the biggest sectoral loser of the day, settled 2.8 per cent lower led by a fall in the shares of Tata Consultancy Services (TCS) and Infosys which declined 3.5 per cent and 3.4 per cent respectively.
In the broader markets, the S&P BSE MidCap index rose 0.6 per cent to 14,991 levels, while S&P BSE SmallCap index ended a tad up at 14,414 levels.
Oil bounced by around $1 a barrel on Wednesday to claw back some of the previous day's 6 per cent plunge, lifted by a report of an unexpected decline in US commercial crude inventories and record Indian crude imports. International Brent crude oil futures were at $63.60 per barrel, up $1.07 per barrel, or 1.7 per cent from their last close. US West Texas Intermediate (WTI) crude futures were up $1.03 cents, or 1.9 per cent, at $54.46 a barrel.
(with Reuters input)