NEW DELHI: Equity benchmark Indices on Wednesday registered losses after a six day rally on Stock exchanges, led by IT and energy stocks as expectations of early US rate cuts diminishes. Sensex plummeted by 434 points to 72,623.09 from 73,057.40 whereas Nifty settled at 22,055.05 after declining 141.90 points. In early trades it touched an all time high of 22,249.40.
NTPC, PowerGrid, and Wipro were among the top losers, each tanking more than 2%.Additionally, HCL Tech, L&T, and Tech Mahindra also closed lower. However, Tata Steel, SBI, IndusInd Bank, and JSW Steel settled higher than their previous close.
Zee Entertainment Enterprises, amidst reports of a $241-million accounting issue uncovered by market regulator Sebi, declined around 14%.
Tourism Finance Corporation surged, hitting a 5% upper circuit, after investor Aditya Kumar Halwasiya acquired a 13% stake in the company.
The Nifty Media sector experienced a notable decline of 4.9%, with Zee Entertainment Enterprise, Dish TV, and Network18 contributing to the drop. Other sectors such as Nifty Auto, bank, IT, pharma, healthcare, consumer durables, and oil & gas also closed in the red.
In the broader market, Nifty Midcap100 fell by 0.47%, while Smallcap100 dropped by 0.27%.
The overall market capitalization of all listed companies on BSE decreased by Rs 2.7 lakh crore to Rs 388.8 lakh crore. Overall 2,377 stocks declined, 1,465 gained, and 100 remaining unchanged on the BSE.
NTPC, PowerGrid, and Wipro were among the top losers, each tanking more than 2%.Additionally, HCL Tech, L&T, and Tech Mahindra also closed lower. However, Tata Steel, SBI, IndusInd Bank, and JSW Steel settled higher than their previous close.
Zee Entertainment Enterprises, amidst reports of a $241-million accounting issue uncovered by market regulator Sebi, declined around 14%.
Tourism Finance Corporation surged, hitting a 5% upper circuit, after investor Aditya Kumar Halwasiya acquired a 13% stake in the company.
The Nifty Media sector experienced a notable decline of 4.9%, with Zee Entertainment Enterprise, Dish TV, and Network18 contributing to the drop. Other sectors such as Nifty Auto, bank, IT, pharma, healthcare, consumer durables, and oil & gas also closed in the red.
In the broader market, Nifty Midcap100 fell by 0.47%, while Smallcap100 dropped by 0.27%.
The overall market capitalization of all listed companies on BSE decreased by Rs 2.7 lakh crore to Rs 388.8 lakh crore. Overall 2,377 stocks declined, 1,465 gained, and 100 remaining unchanged on the BSE.
