Stock Market ends in the red; Sensex loses 500 points
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The stock market on Wednesday closed on a strong note, driven by optimism over a potential India-EU free trade agreement, with the Nifty ending above the 25,300 mark.
At the close, the Sensex rose 487.20 points, or 0.60 per cent, to settle at 82,344.68, while the Nifty gained 167.35 points, or 0.66 per cent, to end at 25,342.75.
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The BSE Midcap 150 index jumped 1.69 per cent, while the Smallcap 250 index surged 1.81 per cent. Overall market capitalisation of BSE-listed firms rose to nearly ₹460 lakh crore from about ₹454 lakh crore in the previous session.
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Among sectors, most sectoral indices ended higher. The laggards were Nifty FMCG, down 0.71 per cent, Pharma, down 0.22 per cent, and Healthcare, down 0.20 per cent.
Nifty Oil & Gas led the gains, rising 3.40 per cent, followed by Metal (2.34 per cent), Media (2.13 per cent), PSU Bank (1.68 per cent), and Realty (1.57 per cent).
Meanwhile, Nifty Bank advanced 0.66 per cent and the Financial Services index rose 1 per cent.
On the Nifty, around 32 stocks ended in the green. Top gainers included Bharat Electronics (BEL), which surged 9.21 per cent, ONGC (up 8.18 per cent), and Coal India (up 5.27 per cent).
On the losing side were Tata Consumer Products (down 4.55 per cent), Asian Paints (down 4.22 per cent), and Maruti Suzuki India (down 2.39 per cent).
The advance-decline ratio remained in favour of advancers, with over 2,900 stocks advancing and more than 1,300 declining on the BSE.
On the BSE, nearly 86 stocks touched their 52-week highs, while 261 stocks hit their 52-week lows.
Stocks hitting fresh highs included Axis Bank, BEL, SBI, Tata Steel, and Tech Mahindra. Those at 52-week lows included Gujarat Fluorochemicals, Patanjali Foods, Syngene International, Brigade Enterprises, Jyothy Labs, and Akzo Nobel India.
Shares of Adani Group companies rebounded sharply, gaining up to 5 per cent. Adani Enterprises rose nearly 5 per cent, while Adani Ports and Special Economic Zone gained over 4 per cent.
Adani Green Energy advanced nearly 4 per cent, Adani Energy Solutions rose 4 per cent, and Adani Power was up over 2 per cent.
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