Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
Domestic equity benchmarks ended in the green zone on Wednesday, led by gains in HDFC Bank, Infosys and M&M amid sustained foreign fund inflows.
The S&P BSE index ended 258.50 points or 0.66 per cent higher at 39,302.85 with M&M being the top gainer, climbing over 4 per cent, and IndusInd Bank the top laggard, plunging 2 per cent.
The NSE Nifty rose 82.75 points or 0.72 per cent to 11,604.55.
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Other gainers on the Sensex pack included Bajaj Auto, Sun Pharma, HDFC Bank, Infosys, L&T and UltraTech Cement.
On the other hand, NTPC, SBI, Axis Bank, Bharti Airtel and ONGC were the remaining laggards.
On the broader front, S&P BSE MidCap and SmallCap ended with gains at 0.21 per cent and 0.44 per cent respectively.
According to traders, stock-specific action and sustained foreign fund inflows drove domestic equities higher, despite mixed cues from global markets ahead of the US Federal Reserve’s policy outcome.
Foreign institutional investors bought equities worth Rs 1,170.89 crore on a net basis on Tuesday, exchange data showed.
Further, Reserve Bank Governor Shaktikanta Das’ assurance to the industry that the central bank will take all necessary measures to ensure liquidity in the system and promote economic growth too lifted market sentiment, traders said.
Meanwhile, bourses in Shanghai, Hong Kong and Seoul ended in the red, while Tokyo settled with gains.
Stock exchanges in Europe were trading on a positive note in early deals.
Global oil benchmark Brent crude was trading 2 per cent higher at USD 41.34 per barrel.
In the forex market, the rupee strengthened by 12 paise to finish at 73.52 against the US dollar.
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