Sensex News: On Wednesday, equity benchmark indexes started the trading session well but later gave up its gains to quote lower due to erratic global market patterns and persistent outflows of foreign funds.
Later, both of the benchmark indices had lost some of their initial gains and were trading in the red. The Nifty traded at 19,376.35, down 20.10 points, and the BSE benchmark was quoted at 65,143.48, down 76.55 points.
Axis Bank, JSW Steel, Infosys, Tata Consultancy Services, Reliance Industries, UltraTech Cement, and NTPC were among the top gainers from the Sensex pack. Tata Steel also saw significant gains.
The laggards included Mahindra & Mahindra, Bharti Airtel, ITC, Kotak Mahindra Bank, and Jio Financial Services.
Tokyo and Hong Kong were trading in the green on Asian markets, but Seoul and Shanghai traded lower.
Tuesday’s US stock market close was neutral.
“The market cannot be immediately triggered to move significantly up or down. Investors might wait and observe as new data from the US is anticipated this weekend. FIIs won’t be major purchasers in the market because the dollar index and US bond yields are still high, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Benchmark Brent crude for world oil increased 0.15 percent to USD 84.16 per barrel.
According to exchange statistics, foreign institutional investors (FIIs) sold shares of stock worth Rs 495.17 crore on Tuesday.
The BSE benchmark ended Tuesday’s trading session at 65,220.03, up just 3.94 points, or 0.01 percent. The Nifty ended the day at 19,396.45, up 2.85 points, or 0.1%.