Mumbai: Equity benchmark indices Sensex and Nifty declined on Wednesday, extending their previous day’s losses, due to weakness in IT, consumption, and select banking blue-chip stocks amid escalating geopolitical tensions.
Besides, persistent foreign fund outflows and fresh tariff-related uncertainties also unnerved investors, traders said. The 30-share BSE Sensex dropped 244.98 points, or 0.29 per cent, to settle at 83,382.71. During the day, it fell 442.49 points or 0.52 per cent to 83,185.20.
The 50-share NSE Nifty declined 66.70 points, or 0.26 per cent, to 25,665.60.
Selective buying in markets and investors’ interest in metals, commodities, and energy stocks provided limited support to indices.
From the 30-Sensex firms, Tata Consultancy Services, Asian Paints, Maruti, Sun Pharma, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Larsen & Toubro were among the biggest laggards.
On the other hand, Tata Steel, NTPC, Axis Bank and UltraTech Cement were among the gainers.
The BSE smallcap gauge climbed 0.25 per cent, and the midcap index went up by 0.16 per cent.
Among sectoral indices, BSE Focused IT dropped 1.30 per cent, realty (0.98 per cent), consumer durables (0.96 per cent), IT (0.96 per cent), auto (0.62 per cent), FMCG (0.53 per cent) and consumer discretionary (0.42 per cent).
Metal jumped 2.67 per cent, PSU Bank (2.43 per cent), commodities (1.59 per cent), telecommunication (0.76 per cent) and energy (0.64 per cent).
Foreign institutional investors offloaded equities worth Rs 1,499.81 crore on Tuesday, and Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,181.78 crore, according to exchange data.
On Tuesday, the Sensex dropped 250.48 points or 0.30 per cent to settle at 83,627.69. The Nifty edged lower by 57.95 points or 0.22 per cent to 25,732.30.
Stock markets will remain closed on Thursday on account of the Maharashtra civic polls.