Market ends lower in volatile session amid selling in realty, financial names

The stock market ended lower in a volatile session on Wednesday, with the Nifty below 25,500 amid selling seen in the realty and financial names.

At close, the Sensex was down 287.60 points or 0.34% at 83,409.69, and the Nifty was down 88.40 points or 0.35% at 25,453.40.

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Among the sectors, Nifty Realty emerged as the biggest drag falling 1.44%. It was followed by Nifty PSU Bank, which dropped 0.83%.

Some of the significant ones were the shares of RBL Bank that tumbled over 2%. Shares of SBI Cards dropped nearly 2% after Goldman Sachs issued a bearish note for the stock. Other sectoral indices, including Nifty Media, Nifty Oil & Gas, and Nifty FMCG, also ended with losses of up to 0.83%.

Further, Nifty Metal managed to end the session with a gain of 1.41%, while Nifty Consumer Durables rose 1.04%. Likewise, Nifty Auto and Nifty Pharma wrapped up the session with gains of 0.32% each.

Realty stocks extended their losing streak for the fifth straight session. The Nifty Realty index declined nearly 2% and has lost up to 6% over the last five trading days.

Raymond Realty was the top loser in the segment, falling as much as 5%. The Phoenix Mills and Brigade Enterprises also fell, slipping up to 4%. DLF, Oberoi Realty and Godrej Properties were down up to 2% during the day.

Over 140 stocks on the BSE touched their 52-week highs. These included Kama Holdings, Asahi India, JK Lakshmi Cement, Sai Life Sciences, SRF, UltraTech Cement, Cholamandalam Financial Holdings, Laurus Labs, Dalmia Bharat, Ramco Cements, Bharti Airtel, Divis Labs, Federal Bank, LT Finance, AU Small Finance, City Union Bank, among others.

Among the new listings, HDB Financial shares ended with 13.5% gain at Rs 840.30 after listing at a decent premium over its IPO price. While the Sambhv Steel Tubes shares ended 19.5% higher at Rs 97.99 after listing at premium of 34.15 percent over the IPO price of Rs 82 per share.

Notably, the BSE midcap and smallcap indices also shed 0.2% each.

Shares of state-owned RITES Ltd rose over 6 percent on Wednesday after the engineering consultancy firm announced securing two new orders, including one from Africa and another from Indian Railways. The stock climbed 7.44% to hit an intraday high of Rs 299.8 on the NSE.