Closing Bell: Markets snap two-day winning streak, Sensex closes down by 207 points, Nifty ends at 18210
Indian share market erased the opening gains in the final hour of the trading session on Wednesday, breaking the two-day winning streak.
Domestic equity benchmarks Sensex and Nifty snapped their two-day winning streak on Wednesday, October 27, 2021, dragged by losses in banking and financial shares such as Axis Bank, Bajaj Finance, Bajaj Finserv, Kotak Mahindra and HDFC Bank. During today's trading session, Sensex and Nifty traded in a narrow range, but late selling pressure in the banking shares wiped out entire intraday gains, according to analysts. The Sensex tanked by 474 points from the day's highest level, while the Nifty index touched an intraday low of 18,201 after touching the high of 18,342.
At the closing bell on Wednesday, the Sensex was down 206.93 points or 0.34% at 61143.33, and the Nifty was down 57.40 points or 0.31% at 18211.00. On the advance-decline ratio, around 1672 shares advanced, 1378 shares declined, while 109 shares are unchanged.
Top gainers on the BSE were Asian Paints, Sun Pharma, Infosys and State Bank of India. The top losers on Wednesday were Axis Bank, Bajaj Finance, NTPC, Tata Motors and Bajaj Finserv.
On the sectoral basis, metal, infra, oil & gas bank and auto indices ended in the red, while buying was seen in the PSU Bank, pharma, IT and realty sector. BSE midcap and smallcap ended the session on a flat note.
Axis Bank was the top loser on the bourses today. The stock fell 6.5% to close at Rs 787.35 after it reported September quarter earnings. Bajaj Finance, ONGC, Tata Motors, Hindalco, IndusInd Bank, Hindustan Unilever, JSW Steel, NTPC, Reliance Industries, Tata Steel and Kotak Mahindra Bank were also down between 1.4-5%.
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