Benchmark indices ended Samvat 2077 on a weak note on Wednesday, tracking losses in market heavyweights such as HDFC Bank, ICICI Bank and Kotak Bank amid a negative trend in global markets.
The company's ended at 59,771 with 257.14 points or 0.43 per cent lower. Nifty fell by 53.74 points or a 0,33 per cent to 17,829, which is why it fell by 59.75 points. Sun Pharma was the top sensex loser, falling 3.06 per cent, along with IndusInd Bank, Bharti Airtel, Kotak Bank, ICICI Bank and HDFC Bank.
The top gainers of Sensex were L&T, Asian Paints, UltraTech Cement, SBI and Bajaj Finance, which went up to 4.19%.
Of 30 sensex stocks, 17 ended lower. The market cap of the BSE-listed firms fell to Rs 263.07 lakh Crore today. The market cap was at Rs 263.35 lakh Crore on Tuesday.
BSE mid-cap and small-cap indices fell 57 points and 93 points, respectively.
The gains were made today due to capital goods stocks on the sectoral front. The BSE Capital Goods Index went up 608 points to 27,828 at the end of the day. The BSE bankex falled 398 points and the consumer durables index slipping 477 points, a major loser for banking and consumer durables stocks.
The market breadth was negative, with 1,585 shares ending higher against 1,657 stocks closing in the red. 159 shares were unchanged.
After a sideways movement after the positive opening, the indices took a downturn as major global indices traded weak ahead of the US Fed policy announcement, said Vinod Nair, head of Research at Geojit Financial Services.
The Fed is expected to announce the taper of its program of asset purchase in the near-term while any hint on interest rate reversal keeps investors on the edge. A faster rate of tapering will have a negative effect on the equity market if any indication showing a faster rate of tapering has a negative effect on the equity market. He said that we could expect a reversal from this weak trend.
The Indian market ended lower for the second straight session. The company closed 109.40 points on Tuesday, or 0.18 per cent lower at 60,029. The Nifty lost 40.70 points or 0.23 per cent to 17,888. The US dollar was down 22 paise higher against the US dollar as a result of easing crude oil prices and foreign fund flows into domestic IPOs. The local unit helped by weak American currency in the overseas market, according to a dealer said.
The rupee opened strong at 74.64 against the dollar and moved in a range of 74.46 to 74.64 in the day trade.
While Tokyo was closed, bourses in Shanghai, Hong Kong and Seoul ended with losses. The stock exchanges in Europe were trading on a negative note in mid-session deals. The international oil benchmark Brent crude fell by 1.66 per cent to $83.31 per barrel.