While the BSE Sensex lost 709.54 points to close at 51,822.53, the NSE Nifty fell 225.50 points to end at 15,413.30
While the BSE Sensex lost 709.54 points to close at 51,822.53, the NSE Nifty fell 225.50 points to end at 15,413.30
Equity indices slipped into negative territory on Wednesday after two days of respite, with the BSE Sensex down 709.54 points following a weak trend in global markets.
Non-stop foreign fund outflows also played a bad game for the stock markets.
The 30-share BSE Sensex closed at 51,822.53, down 709.54 points or 1.35%. During the day, it closed at 51,739.98, down 792.09 points or 1.50%.
The NSE Nifty fell 225.50 points or 1.44% to end at 15,413.30.
Tata Steel, Wipro, Reliance Industries, IndusInd Bank, HCL Technologies, Bajaj Finserv, Titan and Bajaj Finance were among the laggards in the Sensex pack.
On the other hand, TCS, HUL, PowerGrid and Maruti Suzuki India were among the gainers.
Elsewhere in Asia, markets in Hong Kong, Seoul, Shanghai and Tokyo ended lower.
European markets were also trading in the red in mid-session deals.
United States markets posted smart gains on Tuesday.
“The pull back rallies may be intensified and yesterday was bullish. The important question is – will it continue? There is no economic news apart from softening in crude to sustain the rally.
“There is no reason for FIIs to change their selling strategy as the dollar remains strong and US bond yields are attractive and are expected to rise further,” said VK Vijayakumar, chief investment strategist, Geojit Financial Services.
On Tuesday, the BSE Sensex was up 934.23 points, or 1.81%, while the NSE Nifty was up 288.65 points or 1.88%.
Meanwhile, international oil benchmark Brent crude fell 4.19% to $109.8 a barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 2,701.21 crore on Tuesday, according to exchange data.