Sensex, Nifty settles lower after a choppy ride
(RTTNews) – Indian stocks closed on a low note on Wednesday after fluctuating between gains and losses for much of the day’s session as investors remained largely cautious, pending a monetary policy statement. the Federal Reserve, expected later today.
The 30-stock benchmark BSE Sensex ended the session with a loss of 77.94 points or 0.13% to 58,927.33 after hitting a low of 58,878.38 and a high of 59,178.44 intraday.
The National Stock Exchange’s Nifty Index, which hit a low of 17,524.00 and a high of 17,610.45, came in at 17,546.65, down 15.35 points or 0.0% from Tuesday’s close.
Autos, information technology and metals stocks rose. Real estate and media stocks were in demand again, while bank stocks were weak.
Auto stocks Tata Motors, Mahindra & Mahindra, TVS Motor, Ashok Leyland, Maruti Suzuki and Bajaj Auto closed with net to moderate gains.
Among real estate stocks, Godrej Properties climbed over 13%, DLF by 11.5% and Indiabulls Real Estate by almost 9%, while Phoenix and Sobha Developers gained 6.25% and 6.7% respectively.
Metal stocks NMDC, Coal India, MOIL, Hindalco and National Aluminum gained 2.3 to 5%.
In information technology, MindTree climbed almost 4% and Tech Mahindra by 3.6%. Mphasis, L&T Infotech and HCL Technologies gained 1 to 2.2%.
Nucleus Software’s exports climbed more than 12% after the company said its board would consider a share buyback on Friday, September 24, 2021.
Shares of Zee Entertainment Enterprises Limited rose nearly 31% after the company said its board of directors approved the merger between the company and Sony Pictures Networks India.
On the economic front, the Asian Development Bank today downgraded India’s economic growth forecast for the current fiscal year to 10%, from 11% previously, citing the negative impact of the second pandemic wave.
The scope of the market was quite strong. Regarding BSE, 2,099 stocks closed higher, while 1,140 stocks fell and 164 stocks ended flat.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.