Stock market highlights: Sensex and Nifty — the benchmark equity indices of the domestic stock markets — ended Wednesday’s trade on a flat note with marginal losses weighed down by heavy selling pressure in IT, pharma, realty, auto and metals stocks. However, oil marketing companies and aviation stocks extended gains on crude oil prices slump.
BSE Sensex ended Wednesday’s trade with nominal losses, down 2.50 points or 0.01% at 35,141.99 points. The market breadth was bearish, as 1,393 stocks declined as compared to 1,203 advances. However, mid-cap stocks outperformed on stock-specific buying on the basis of quarterly corporate earnings and decline in crude oil prices, said market observers. The S&P BSE mid-cap index closed Wednesday’s trade higher by 0.19%. The NSE Nifty ended 6.20 points or 0.06% lower at 10,576.30 points.
The stock market had started on a higher note riding on a strong rupee, falling crude prices and healthy buying in blue-chip stocks. The Sensex opened over 120 points higher, while the NSE Nifty 50 opened above the 10,600-level. The rupee opened at 72.1575 per US dollar, appreciating 51 paise from its previous close at 72.6725 against the greenback.
In the global markets, Asian shares edged lower as investors fretted about slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply, said a Reuters report. Oil prices struggled for traction on Wednesday after sinking on worries about weakening world demand and oversupply, while global shares sagged with slowing growth concerns overshadowing potential positives such as progress in the Brexit saga.