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.
Trading at the Nifty50 was halted at 11:40 a.m. and resumed only at 3:30 p.m. after a glitch resulted in stopping of rate updates.
In the broader markets, the S&P BSE MidCap and SmallCap were down by 1.10 per cent and 0.66 per cent respectively.
Broader markets BSE midcap and smallcap followed the frontline indices’ trend and surged to end up to 1.40 per cent and 0.37 per cent respectively.
The rise in the Indian indices came on the back of positive global cues.
Gainers of the Sensex pack were led by Mahindra and Mahindra (M&M), soaring around 7 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank.
