The equity benchmark indices started in green but hastily turned into red in the trading session on Wednesday.
At 9:41 am, the 50-index Nifty of the National Stock Exchange (NSE) traded at 10,622.45, down 33.75 points or 0.32%, while the S&P BSE Sensex was at 35,312.35, with a loss of 162.16 points or 0.46%.
The top five laggards on the Sensex pack were Tata Consultancy Services (TCS), Tata Steel, Infosys, Reliance Industries and Wipro, with losing between 1.29% and 2.71%.
However, oil and gas stocks gained 1.32% as the prices of crude oil hits 13-month low on Tuesday.
Gaining between 2.98% and 4.98%, the main gainers in the 30-share Sensex were Bharat Petroleum, Indian Oil and Hindustan Petroleum.
On the other hand, the 23 out of 50 stocks in Nifty surged down in trade.
Chief Strategy Officer (CSO) of KIFS Trade Capital, Ritesh Ashar said, “Bears are back in action amid weak global cues. Uncertainty will prevail in the market owing to the forthcoming election and also liquidity concern in Non-Banking Finance Companies (NBFC) sector.”
Meanwhile, the BSE Sensex closed at 35,474 on Tuesday and the broader Nifty50 settled at 10,656.
According to the provisional NSE data, domestic institutional investors and foreign portfolio investors sold net equities worth Rs. 44.06 crore and Rs. 753.17 crore respectively on Tuesday.
-Harleen Sandhu
