Stock market today: BSE Sensex experienced a decline of 318 points on Wednesday, primarily due to the selling of IT and auto shares. This decline was further exacerbated by the unabated foreign fund outflows and weak trends in global markets.
The BSE Sensex fell for the second consecutive day, settling at 81,501.36, a decrease of 318.76 points or 0.39 per cent. During the day, it slumped to 81,358.26, a drop of 461.86 points or 0.56 per cent. Similarly, the NSE Nifty declined by 86.05 points or 0.34 per cent, closing at 24,971.30.
Among the 30 Sensex firms, the major laggards included Mahindra & Mahindra, Infosys, Kotak Mahindra Bank, JSW Steel, Adani Ports, Tata Motors, Adani Ports, ITC, and Titan. On the other hand, HDFC Bank, Bharti Airtel, Reliance Industries, Asian Paints, and State Bank of India were the gainers.
Vinod Nair, Head of Research at Geojit Financial Services, stated, "The market traded range bound with a negative bias due to the fear of a downgrade in FY25 earnings, which could impact the sustainability of premium valuation." According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,748.71 crore on Tuesday.
In Asian markets, Seoul, Tokyo, and Hong Kong settled lower, while Shanghai ended in positive territory. European markets were trading in the negative territory, and the US markets ended lower on Tuesday. The global oil benchmark, Brent crude, climbed 0.08 per cent to USD 74.32 a barrel.
On Tuesday, the BSE benchmark Sensex declined by 152.93 points or 0.19 per cent, settling at 81,820.12. The Nifty also settled lower by 70.60 points or 0.28 per cent, closing at 25,057.35.
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