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.
On the other hand, Asian Paints, Dr Reddy's, HCL Tech, HUL and Bharti Airtel were among the gainers.
The MidCap and SmallCap ended with losses at 0.72 per cent and 0.53 per cent respectively.
The top laggards included PowerGrid, ONGC, NTPC and Dr Reddy's were among the laggards.
Foreign investors had bought equities worth Rs 2,223.16 crore on net basis in Indian capital markets on Tuesday, exchange data showed.
ONGC was the top loser, shedding around 6.50 per cent, followed by M&M, Bajaj Finserv, Axis Bank, Kotak Bank, PowerGrid, HDFC Bajaj Finance and ICICI Bank.
