Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
India’s benchmark Sensex bucked a 4-day losing streak on Wednesday, taking cues from global peers and as international crude oil prices retreated, boosting investor sentiment.
“A recovery in the global markets has worked well for the domestic indices. The decline in crude oil prices also helped sentiments,” said Astha Jain, Senior Analyst, Hem Securities.
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The 30-scrip Sensex rose 186.73 points to settle at 34,033.96. The broader Nifty gained 77.95 points to end at 10,224.75.
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Healthy buying was witnessed in oil and gas, metals, and finance counters. IT and healthcare stocks were the laggards, as a recovery in the rupee weighed on the export-oriented sectors.
The Indian rupee was trading at Rs 73.18 to a US dollar, from its previous close of 73.57. Also, the benchmark Brent crude oil price eased to $75.90 a barrel.
The Sensex swung between a high of 34,300.97 and a low of 33,726.07.
Bajaj Auto was among the top losers, as investors were disappointed by its quarterly results. The share settled at Rs 2,475.30 apiece, down 4.30 per cent.
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