The S&P BSE Sensex ended 37.38 points or 0.10 per cent lower at 38,369.63 levels. Kotak Bank was the top loser in the Sensex pack, skidding 2.10 per cent.
According to traders, market sentiment was weak following lacklustre macroeconomic data and concerns over rising coronavirus cases. (Photo: Getty)
Domestic markets ended on a flat note on Wednesday as investors profited gains in finance, banking and consumption stocks amid mixed global cues.
The S&P BSE Sensex ended 37.38 points or 0.10 per cent lower at 38,369.63 levels. Kotak Bank was the top loser in the Sensex pack, skidding 2.10 per cent, followed by Sun Pharma, Bajaj Finserv, L&T, Bajaj Finance, TCS and Titan. On the other hand, HCL Tech, SBI, Tech Mahindra, Maruti, M&M and UltraTech Cement were among the gainers, climbing as much as 4.86 per cent.
The NSE Nifty slipped 14.10 points or 0.12 per cent to close at 11,308.40.
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Similar trends were also witnessed on the broader market too where S&P MidCap and SmallCap ended 0.26 per cent and 0.02 per cent lower respectively.
According to traders, market sentiment was weak following lacklustre macroeconomic data and concerns over rising coronavirus cases.
India’s industrial production declined by 16.6 per cent in June on account of disruption in normal business activity following the outbreak of coronavirus pandemic, government data showed on Tuesday.
The number of cases around the world linked to COVID-19 has crossed 2.02 crore, with India breaching the 23-lakh mark.
“The encouraging response to the fundraising by the lending firms has boosted the investors’ sentiment towards the banking stocks… helping the benchmark to sustain at the higher levels while other sectors are taking a breather after a substantial rally.
“Since we’re largely mirroring the global markets, further developments on the stimulus package announcement and US-China trade tension would be actively tracked by the participants for cues. Traders should maintain their focus on the selection of stocks as we’re still seeing enough opportunities across the board,” said Ajit Mishra, VP – Research, Religare Broking.
BSE healthcare, consumer durables, metal, realty, telecom and FMCG indices fell up to 1.46 per cent, while auto, utilities, power, and IT closed higher.
Global equities were largely positive despite deadlock over fresh stimulus in the US and the UK slipping into its deepest recession in the June quarter.
Bourses in Hong Kong, Tokyo and Seoul ended with gains, while Shanghai settled in the red.
Most stock exchanges in Europe were trading on a positive note in early deals.
Global oil benchmark Brent crude was trading 1.48 per cent higher at $45.16 per barrel.
In the forex market, the rupee slipped 5 paise to close at 74.83 against the US dollar.
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