Benchmark indices continue to slide for third day, close at their lowest in nearly two months
The decline this week has been the worst in a three-day period in six months.
Domestic benchmark indices reversed early gains to end Wednesday’s session with losses for the third straight day. The BSE Sensex lost 169.45 points to close at 37,121.22, while the National Stock Exchange’s Nifty 50 fell to 11,234.35, down 44.55 points since Tuesday.
Both the indices closed at their lowest levels in nearly two months. The decline this week has been the worst in a three-day period in six months, according to BloombergQuint. Earlier in the day, the indices had snapped their losing streak after Asian stocks extended gains, with equities in Japan leading the charge.
Coal India, the Oil and Natural Gas Corporation, Tata Steel, Hero MotoCorp and Sun Pharmaceuticals were the top gainers on the Sensex. On the Nifty 50, the stocks of Coal India, ONGC, Gail (India), Bharat Petroleum Corporation and Tech Mahindra led the gains.
IndusInd Bank, Maruti Suzuki, HDFC Bank, Yes Bank and HDFC were the top losers on Sensex, while the stocks of Bajaj Finserv, Bharti Airtel, Zee Entertainment, Bajaj Finance and IndusInd Bank performed poorly on the Nifty 50.
The rupee recovered to end the day at 72.38 against the dollar on Wednesday, up 61 paise from a lifetime low of 72.97 on Tuesday.