Markets end lower amid profit-booking, mixed global cues
The Hindu
Sensex and Nifty close lower for second day amid global market trends and foreign fund outflow.
Equity benchmark indices Sensex and Nifty settled lower for the second straight session on Wednesday due to profit-booking in select banking and auto stocks amid mixed trends from the global markets and outflow of foreign funds.
The 30-share BSE Sensex declined by 27.09 points or 0.04% to settle at 73,876.82. During the day, the index oscillated between the high of 74,151.21 and the low of 73,757.23.
The broader NSE Nifty declined 18.65 points or 0.08% to 22,434.65, with 30 components of the 50-share benchmark ending with losses.
"Nifty remained volatile throughout the day after an initial weak start due to negative global cues," said Rupak De, Senior Technical Analyst, LKP Securities.
He further said that the index may trend towards 22,650. "Support is positioned at 22,350 on the lower end."
Among the Sensex constituents, as many as 16 stocks closed with losses with Nestle India, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finserve, Titan and JSW Steel being the major laggards.
Index major Reliance, Hindustan Unilever, Maruti and Tata Steel also declined due to selling pressure.
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