Market erases all gains, Nifty falls below 23,300
At close, the Sensex was down 422.59 points or 0.54% at 77,155.79, while the Nifty fell 168.60 points or 0.72% at 23,349.90.
After touching a fresh all-time high of 36,747.87 points, the benchmark BSE Sensex retreated and traded on a negative note during the afternoon session on Wednesday.
Minutes into trade, the Sensex set a benchmark level but could not hold on to the gains. Heavy selling pressure on metal and auto stocks weighed on the index, analysts said.
At 12.21 p.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,987.60 points — lower by 20.45 points or 0.19 per cent — from its previous close of 11,008.05 points.
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The barometer 30-scrip Sensex on the BSE, which had opened at 36,722.41 points, traded at 36,402.83 points (12.21 p.m.) — down 117.13 points or 0.32 per cent — from its previous close of 36,519.96 points.
As mentioned Sensex has touched a record intra-day high of 36,747.87 points so far and a low of 36,320.92 points. The BSE market breadth was bearish with 1,392 declines and 884 advances.
The top gainers so far on the Sensex were ONGC, HDFC Bank, Bajaj Auto, Asian Paints and Sun Pharma whereas Tata Steel, Bharti Airtel, Vedanta, Tata Motors (DVR) and Hindustan Unilever were the top losers.
On the NSE, Induabulls Housing Finance, ONGC and HDFC Bank were the highest gainers while Tata Steel, Bharti Airtel and Lupin lost the most.
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