BUSINESS
The BSE Sensex tanked 113.23 points, or 0.33%, at 34,082.71 while Nifty settled at 10476.6.70 sliding 21.55 points or 0.21%
The markets continued to be in the red for the seventh straight session on Wednesday after the Reserve Bank of India (RBI) flagged risks of inflation and wider fiscal deficit in its last policy of the fiscal.
The BSE Sensex tanked 113.23 points, or 0.33%, at 34,082.71 while Nifty settled at 10476.6.70 sliding 21.55 points or 0.21%.
Tracking the recovery in the US markets, the Sensex opened 367.36 points or 1.07% at 34563.30, but gave away the gains as RBI policy unfolded.
NSE Nifty opened 109.95 points, or 1.04%, up at 10607.20. In a roller-coaster intra-day trade, the 30-share index fell to 34008.59 while the wider Nifty dropped 10,446.55.
However, after falling for two weeks, the broader market recovered, with the S&P Midcap index rising 0.43% and Smallcap Index 1.95%.
Among the BSE sectors, telecom tanked the most 1.12%, followed by teck (0.63%) and information technology (0.55%).
Oil & gas was the top gainer at 1.69%, followed by realty (1.54%) and energy (1.10%). Coal India (2.48%), ONGC (2.24%), Tata Motors (1.03%), Asian Paints (0.91%) and Dr Reddy’s (0.79%) were gainers among the Sensex pack. Bharti Airtel, Wipro, Larsen & Turbo and YES Bank were biggest losers, falling more than 1.5%.
On the wider Nifty, with a drop of 0.89% IT, bank (0.55%) and private bank (0.43%) were the biggest sectoral losers while gainers were Nifty realty (1.69%), media (1.61%) and pharma (0.73%).
HPCL (4.86%), Aurobindo Pharma (2.77%), BPCL (2.42%), ONGC (2.08%) and Coal India (2.05%) were the biggest gainers on Nifty. Major losers were Ambuja Cement, Vedanta, Bharti Airtel, Indiabulls Housing Finance and YES Bank which tanked over 2%.
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