Shares end lower after rising to fresh record highs, Sensex gives up 34,000-point mark
Stocks of banks and automobile companies dragged the indices lower by the end of the trading session.
The Indian benchmark indices hit all-time highs on Wednesday but could not sustain the gains, as stocks of banks and automobile companies dragged them lower by the end of the trading session.
The Bombay Stock Exchange Sensex, which had hit the 34,000-point mark for the first time on Tuesday, ended the day at 33,911.81, losing 98.8 points on Wednesday. The 31-stock index touched an intra-day high of 34,137.97 points.
The National Stock Exchange’s Nifty 50 closed at 10,490.75, lower since Tuesday’s close by 40.75 points.
The five stocks that gained the most on the Sensex were Sun Pharma, Dr Reddy’s Laboratories, Mahindra & Mahindra, Wipro and Hindustan Unilever. The top five losing stocks were Bharti Airtel, ICICI Bank, Larsen & Toubro, State Bank of India and Tata Consultancy Services.
On the Nifty 50, Sun Pharma, Tech Mahindra, Dr Reddy’s, Wipro and Aurobindo Pharma were the top gainers, and Indian Oil Corporation, Bharti Airtel, ICICI Bank, UltraTech Cement and Bosch declined the most.
The Indian rupee was at 64.15 to a dollar, lower than 64.08 at close on Tuesday.