Top News

Mumbai Domestic stock markets declined for the second consecutive trading session on Wednesday. Due to selling pressure in IT stocks, Sensex and Nifty closed at their lowest level in almost two weeks. The 30-share BSE Sensex fell 187.90 points, or 0.24 percent, to 77,966.35. This is the lowest closing level of Sensex since July 30. Nifty-50 of National Stock Exchange (NSE) also closed at 24,435.95 points with a decline of 35.75 points or 0.15 percent. This is the lowest level of Nifty after July 31.

Market came under pressure at the beginning of trading

The Sensex opened with a gain of 109 points on Wednesday, but went into the red in early trade itself. At one point during trading the Sensex fell by 656 points. However, due to some improvement later, its decline was limited. Nifty also came under pressure after opening almost flat. The fall in the broader market was relatively limited. Nifty Midcap-50 gained 0.24 percent, while Smallcap-100 recorded a decline of 0.18 percent.

IT index fell by 1.54 percent, TCS fell the most.

Nifty IT index fell 1.54 percent in sector-wise trade. Indices of consumer durables, health, FMCG and auto sectors also remained in the red. On the other hand, buying was seen in public sector banking shares. The public banks index rose 2.05 percent and the media index rose 1.05 percent. There was heavy buying in metal shares also.

Shares of 21 out of 30 Sensex companies closed in decline. TCS shares fell 3.71 percent. Mahindra & Mahindra fell by 1.67 percent, Tata Steel by 1.57 percent, L&T by 1.19 percent, Eternal by 1.18 percent and Infosys by 1.03 percent. Shares of ITC, Bajaj Finance, Trent, Maruti Suzuki, Tech Mahindra, Hindustan Unilever and Indigo also closed with losses.

SBI and Bharti Airtel rise

In the declining market, shares of State Bank of India rose 1.31 percent and Bharti Airtel rose 1.16 percent. Shares of UltraTech Cement, PowerGrid and Reliance Industries also rose. Shares of a total of 3,476 companies were traded on NSE. Of these, 1,867 shares closed in decline and 1,504 shares closed in advance, while there was no change in 105 shares.

Mixed trend in Asian markets

There was mixed trading in global markets in Asia. Japan's Nikkei closed 0.83 percent higher and China's Shanghai Composite closed 0.32 percent higher. Hong Kong's Hang Seng fell 0.83 percent. In early trading in European markets, Germany's DAX was up 0.26 percent, while Britain's FTSE was down 0.28 percent.