Market closes lower due to losses in consumer stocks amid weak earnings
The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.
The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.
The benchmark indices surged 1.8 per cent on the back of strong gains in capital goods, banking, energy, and auto stocks on Tuesday.
Stock market fell on Monday amid losses in global markets as the US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.
Stock market closed higher on Friday, a day before the announcement of Budget, for the fourth consecutive session.
At close, Sensex was up 654 points or 0.9 per cent at 76,555 and Nifty was up 206 points or 0.9 per cent at 23,163.
At 10 a.m., the 30-scrip sensitive index traded at 60,690.03 points, down 453.30 points or 0.74 percent.
On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at lower note at 18,602.35 points.
NTPC was the top gainer in the Sensex pack, rising around 4 per cent, followed by Bajaj Finserv, SBI, Bajaj Finance, Tech Mahindra, Dr Reddy's
"Asian markets continued to show mixed signs and India is one of the outperformers today so far," said Deepak Jasani, Head of Retail Research, HDFC Securities.
During the week, the Sensex rallied 1,032.58 points or 1.74 per cent, while the Nifty surged 268.05 points or 1.52 per cent.
