New Delhi: The bear market continued to dominate on Wednesday. The Bombay Stock Exchange benchmark Sensex lost another 314 points to close at 60,008.33. Similarly, the National Stock Exchange index Nifty lost 101 points.
The stock market fell for the second day in a row. With inflation soaring, investors focused on recording profits. Shares of the stock traded higher at the end of the day. Leading companies, including M&M, Market Lead Reliance, HDFC twin companies and Kotak Bank, were the biggest losers, according to stockbrokers.
Market value rises to Rs 1.36 lakh crore: 1,496 shares out of a total of 3,464 shares traded on the stock exchange. 1,852 shares declined. 116 shares remained unchanged. 212 shares recorded a new 52-week high and 35 shares a new low. In addition, 374 stocks recorded highs and lows, while 216 stocks fell further and lows. The market capitalization rose by Rs 1.36 lakh crore to Rs 271.08 lakh crore at the end of trading. The number of registered investors has increased to 8,67,88,350.
‘Bear’ dominance: The Sensex weakened by 142.44 points in the morning to start at 60,179.93 and touched a high of 60,426.61. The Sensex, which had lost 396.34 points (0.65 per cent) to close at 60,322.37, fell to 59,944.77 on increased selling. Most of the time in the market the bear dominated the ups and downs and the trade took place.
Maruti Suzuki further improved: Only 10 out of the 30 top rated stocks in the Sensex gained. 20 stocks fell. Leading car maker Maruti Suzuki led the company with a further 2.77 per cent rise in earnings for the second day in a row. It was followed by Asian Paint at 2.47 per cent and Pow Grid at 2.08 per cent. Also on the list were NTPC, ITC, Indus Ind Bank, Tech Mahindra, SBI, Bajaj Finance and Bajaj Finzow.
Axis Bank, Reliance fall sharply: Meanwhile, leading private sector bank Axis Bank fell 1.95 per cent, while market leader Reliance fell 1.91 per cent to top the list. Similarly, shares of leading companies including Kotak Bank, Bothi Hotel, Titan, Dr Reddy, HDFC Bank, HDFC, HCL Tech, TCS and Infosys also fell.
Nifty down 101 points: The National Stock Exchange gained 691 shares. 1,145 shares declined. The Nifty index, which includes 50-plus stocks, opened at 17,939.35 in the morning and touched a high of 18,022.65. Then, the Nifty fell to 17,879.25 and finally lost 100.55 points (0.56 per cent) to settle at 17,898.65.
Sector-wise, realty, palm oil, and oil & gas stocks fell 1.30 to 1.65 percent. Also, the Nifty Bank, Financial Services, Private Bank and Consumer Durables indices fell. At the same time, the Auto, ID, Media, and Healthco codes were slightly higher.