Market Update:
The indices closed lower dragged by IT stocks on Wednesday after a positive or flat opening earlier.
At close, Sensex was at 38071 down by 421.82 points or 1.10%, Nifty trading lower by 97 points or 0.86% at 11202.
Auto Stocks and IT stocks contributed in the downfall of markets on Wednesday while FMCG and Pharma gain.
Highlights as of Wednesday afternoon:
- All three major indices closed red after opening positive or flat on Wednesday.
- Dr Reddy’s, IndusInd bank and Tata steel among the top gainers of Nifty.
- Reliance, Nestle, HCL Tech among the top losers of Nifty.
- Reliance after a consecutive winning streak ended lower today losing nearly 4% at 2096.95.
- Nestle loses 500 points after Quarter results, However the company’s e-commerce sale doubled in the pandemic.
- Pharma stocks outperform, DR Reddy’s lab gains over 6% at 4302 up by 250 points.
- IndusInd Bank climbs 7% post Q1 closing at Rs 550.50.
- Maruti Suzuki loses 100 points after posting loss of Rs 249 Crore in quarter results.
- About 1359 shares have advanced, 1300 shares declined, and 129 shares are unchanged.
- Mixed trend seen on the sectoral front with auto, energy, infra and IT indices ended lower, while buying witnessed in the pharma, metal and FMCG sectors.
