Last Trade: Sensex ends 502 points lower, Nifty50 slips below 24,200 dragged by financial stocks
Domestic equity benchmarks suffered heavy losses on Wednesday amid a cautious mood in global markets as investors awaited the Federal Reserve’s key rate decision later in the day. Both headline indices were down around 0.6 percent on the day, with the Sensex shedding 502.3 points to settle at 80,182.2 and the Nifty50 giving up 137.2 points to 24,198.9. Selling pressure in financial services stocks weighed on the market, with Nifty Bank down 1.3 percent, although buying in IT stocks—led by Tata Consultancy Services, Infosys and Wipro—provided some support.
Both indexes recovered a small portion of their daily losses. During the session, the Nifty 50 fell by 186.2 points to hit 24,149.9 while the Sensex fell by 634.4 points.
Most industry gauges ended lower, with the Nifty Bank losing 695.3 points, or 1.3 percent, to close at 52,139.6, within 130 points from the day’s low.
Among the heavyweights, HDFC Bank, ICICI Bank, Larsen & Toubro, Tata Motors and SBI weighed in the market. On the other hand, stocks like TCS, Sun Pharma and Reliance received buying interest, supporting the market.
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