The Indian stock market’s key indices, Sensex and Nifty, were trading in the red for the sixth consecutive day on Wednesday dragged by selling pressure in the index heavyweights Reliance Industries, ITC and HDFC Bank. The 30 stock S&P BSE Sensex was trading 168.58 points or 0.30 per cent down at 56,938.94 points at 14.06 pm against its previous day’s close at 57,107.52 points.
The Indian equities witnessed volatile trading amid weakness in the Asian peers. The Sensex started the day with a deep cut at 56,710.13 points and slumped to a low of 56,498.72 points in the morning session. The markets rebounded in the afternoon session. The Sensex briefly turned positive touching a high of 57,213.33 points. The market is under selling pressure for the sixth consecutive session. The Sensex had lost 37.70 points or 0.07 per cent on Tuesday.
The broader Nifty 50 of the National Stock Exchange was trading 65.65 points or 0.39 per cent down at 16,941.75 points against its previous day’s close at 17,007.40 points. The Nifty started the day in the red at 16,870.55 points and slumped to a low of 16,825.40 points in the morning trade. The Nifty rose to a high of 17,037.60 points in the intra-day.
The Nifty had lost 8.90 points or 0.05 per cent on Tuesday. The index heavyweight Reliance Industries Limited was trading 2.10 per cent lower at Rs 2345.05. ITC dipped 1.84 per cent to Rs 328.70. Axis Bank slumped 2.23 per cent to Rs 720.85. HDFC Bank was trading with a loss of around one per cent.
Bajaj Finserv, HDFC, IndusInd Bank, Tata Steel, Titan, L&T and SBI were among the major Sensex losers. Dr Reddy’s Laboratories jumped 2.70 per cent to Rs 4295. Sun Pharma rose 2.37 per cent to Rs 918.15. Asian Paints, Power Grid Corporation, Mahindra & Mahindra, Bharti Airtel and Tech Mahindra were among the major Sensex gainers.