Indian Stock Market Closes Lower as Sensex Falls 0.34% and Nifty Drops 0.44%
The Indian stock market closed lower on Wednesday despite gains in IT stocks, including Infosys, Tech Mahindra and Tata Consultancy Services (TCS). The BSE Sensex declined 0.34%, while the NSE Nifty 50 fell 0.44% amid selling pressure in financial services and other major sectors.
At the close of trading, the Sensex fell 251.89 points, or 0.34%, to 72,781.89. The Nifty 50 declined 99.25 points, or 0.44%, to close at 22,622.70.
The market had recorded gains in the previous trading session, but trading on Wednesday was mixed. Buying interest in IT stocks was insufficient to offset selling pressure across several other sectors.
Of the 30 companies in the Sensex, 11 closed higher and 19 ended lower. Among the 50 constituents of the Nifty 50, 16 finished in positive territory, while 34 closed with losses.
IT stocks were among the key gainers during Wednesday's session. Infosys shares rose 2.51%, making the company one of the top performers among Sensex constituents.
Tech Mahindra gained 2.20%, while Tata Consultancy Services (TCS) advanced 1.54%. HCL Technologies also closed higher, rising 0.61%.
Outside the IT sector, several major companies also recorded gains.
Hindustan Unilever shares rose 1.15%, while NTPC gained 0.87%. Reliance Industries advanced 0.79%, Bharat Electronics Limited (BEL) rose 0.58%, and UltraTech Cement gained 0.33%.
ITC edged up 0.08%, while Kotak Mahindra Bank rose 0.02%. However, gains in these stocks were insufficient to prevent the benchmark indices from closing lower.
Bajaj Finance recorded a decline of 2.55%, making it one of the weakest performers among Sensex companies. Mahindra & Mahindra fell 2.24%, while Bajaj Finserv dropped 1.99%.
Eternal declined 1.68%, ICICI Bank fell 1.54%, and IndiGo lost 1.50%.
Sun Pharma shares closed 1.14% lower, Larsen & Toubro (L&T) declined 1.06%, and Adani Ports fell 0.96%.
Titan, Trent, Asian Paints and HDFC Bank also ended lower. Maruti Suzuki, Bharti Airtel, Axis Bank, Power Grid, Tata Steel and State Bank of India (SBI) closed with marginal losses.
