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.
The S&P BSE Sensex ended 529.36 points or 1.14 per cent higher at 46,973.54 with Axis Bank being the top gainer, rising around 3 per cent.
1. ONGC led the losers by tanking around 9 per cent. IndusInd Bank, M&M, SBI, NTPC, ITC, Axis Bank and PowerGrid shed up to 7 per cent. 2. India has suspended all flights from the UK between December 23-31.
IndusInd was the top laggard in the Sensex pack, shedding 3 per cent, followed by HDFC, ONGC, Kotak Mahindra, Bajaj Finance, Maruti Suzuki and Bharti Airtel.
SBI in a research report raised India's GDP growth forecast to (-) 7.4 per cent in FY21 from previously predicted (-) 10.9 per cent.
NSE Nifty rose 44.30 points or 0.33 per cent to close at a record 13,558.15. It hit a lifetime high of 13,597.50 during the session.
